Los Angeles 5/4/2012 3:15:58 AM
News / Law

Octomom files for bankruptcy protection in California

Nadya Suleman, famously known as ‘Octomom’, filed for Chapter 7 bankruptcy in a California court on Tuesday.

Suleman gave birth to eight children as a single mother in 2009, adding to her already large brood of six. Soon after the birth of her eight children the public and media offered the struggling mother with gifts and money until it was revealed she had fertility treatments.

Then questions were raised about her ability to provide for her 14 children. After numerous failed attempts to capitalize on her notoriety as “Octomom,” Suleman was forced to hire a bankruptcy attorney and seek debt protection.

Suleman, who gets $3,000 to $4,000 a month in public assistance, owes almost $30,000 in rent on her California home among numerous other creditors.

Just last week, her hairdresser called Child Protective Services because the children were living in squalor. After a visit, the agency determined that the children were not in any danger but ordered her to clean up her residence.

In her bankruptcy filing Suleman listed her assets at $50,000 with her debts totaling $1 million. She filed for Chapter 7 bankruptcy which requires she sell off assets to pay down her debts before these debts can be discharged.

For the deeply indebted person, a California bankruptcy attorney may recommend either Chapter 7 or Chapter 13 bankruptcy protection, whichever is in line with their client’s needs. Both of these structures give the financially insolvent individual the chance at a fresh start.

The decision to file for debt protection through a California bankruptcy lawyer is not a decision anyone should take lightly. Though it is a serious matter a bankruptcy filing can help a person have a fresh financial start.