Mrluvaluva
02-05-2012, 01:01 AM
"Octomom" Nadya Suleman has filed for Chapter 7 bankruptcy and now says she's willing to do soft-core porn, ABC News reports.
http://yeeeah.com/wp-content/uploads/2009/05/octomom-porno.jpg
The mother of 14 claims she owes from $500,000 to $1 million to creditors. Some of them include Verizon Wireless, Kaiser Permanente, and the owner of her home. She has less than $50,000 in assets, according to court documents.
While filing bankruptcy can discharge much of her debt, hopefully Octomom knows the process isn't as easy as it seems on television.
That's because a necessary step in getting approved for a Chapter 7 bankruptcy is giving up a lot of your property.
Debtors generally have to hand over almost anything that can be sold to pay back their debt. These items include second homes and cars, bank accounts, stocks, bonds, and even certain personal items, like art collections. Part of the equity in a debtor's primary home can also be taken.
In addition, bankruptcy filers also have to meet with their creditors to go over the filer's assets.
If Suleman complies with these requirements, she could end up discharging a huge chunk of her $1 million debt. But courts still retain discretion to deny a Chapter 7 bankruptcy if it thinks the filer isn't being cooperative.
As for Octomom's porn deal, she'll be getting more than $10,000 to film a masturbation video. The amount is a huge step down from the $1 million she refused from Vivid to star in a porn movie.
Though she vowed never to do adult films, Suleman apparently doesn't consider her upcoming skin flick to be porn.
It's been a tough month for Suleman. Earlier, she received death threats after going on food stamps and last week child services investigated her for child neglect.
Hopefully, Octomom's bankruptcy and future porn earnings will be enough to keep a roof over her kids' heads.
Reuters (http://www.reuters.com/article/2012/05/02/tagblogsfindlawcom2012-celebrityjustice-idUS133490686820120502)
http://yeeeah.com/wp-content/uploads/2009/05/octomom-porno.jpg
The mother of 14 claims she owes from $500,000 to $1 million to creditors. Some of them include Verizon Wireless, Kaiser Permanente, and the owner of her home. She has less than $50,000 in assets, according to court documents.
While filing bankruptcy can discharge much of her debt, hopefully Octomom knows the process isn't as easy as it seems on television.
That's because a necessary step in getting approved for a Chapter 7 bankruptcy is giving up a lot of your property.
Debtors generally have to hand over almost anything that can be sold to pay back their debt. These items include second homes and cars, bank accounts, stocks, bonds, and even certain personal items, like art collections. Part of the equity in a debtor's primary home can also be taken.
In addition, bankruptcy filers also have to meet with their creditors to go over the filer's assets.
If Suleman complies with these requirements, she could end up discharging a huge chunk of her $1 million debt. But courts still retain discretion to deny a Chapter 7 bankruptcy if it thinks the filer isn't being cooperative.
As for Octomom's porn deal, she'll be getting more than $10,000 to film a masturbation video. The amount is a huge step down from the $1 million she refused from Vivid to star in a porn movie.
Though she vowed never to do adult films, Suleman apparently doesn't consider her upcoming skin flick to be porn.
It's been a tough month for Suleman. Earlier, she received death threats after going on food stamps and last week child services investigated her for child neglect.
Hopefully, Octomom's bankruptcy and future porn earnings will be enough to keep a roof over her kids' heads.
Reuters (http://www.reuters.com/article/2012/05/02/tagblogsfindlawcom2012-celebrityjustice-idUS133490686820120502)