Octomom files for Chapter 7 bankruptcy
Nadya Suleman, the woman who became famous after she gave eight additional siblings to her six children by having octuplets in 2009, has reportedly filed for bankruptcy.
In her Chapter 7 bankruptcy filing, the mother of 14 stated that she has just $50,000 in assets and $1 million in debt – more than 20 times as much as the value of her assets. This reportedly includes $30,000 in back rent owed to her landlord, who says that he has fallen behind in mortgage payments as a result of Suleman’s failure to make rent.
This, in turn, has caused the house in which Suleman lives to go into foreclosure. It will likely be auctioned off later this month, and Suleman and her children will have to find another place to live.
Because of Suleman’s large number of children, her bankruptcy will probably be unlike many other bankruptcies in Georgia and across the country. For example, a trustee charged with overseeing a bankruptcy most likely would not approve of a couple without children renting a four-bedroom, three-bathroom home. But a family with 14 children would most likely get approval for that home and other significant expenses simply because of its size.
Sadly, Suleman’s bankruptcy filing is not a terribly surprising development. Suleman has been forthcoming about her financial troubles in recent months, and has reportedly even decided to participate in an adult film in order to make the money she needs to take care of her large family. Hopefully, she finds a way to make ends meet and ensure that her children remain well cared-for in the coming years.
Source: Time, “Was it Smart for ‘Octomom’ to Declare Bankruptcy?” Martha C. White, May 4, 2012
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