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Wednesday, May 09, 2012

"Octomom" Declares Bankruptcy

Nadya Suleman, known as the "Octomom," declared bankruptcy last week, according to the Associated Press. Apparently, court documents reveal Suleman's assets total about $50,000, and her debt is about $1 million.

The Octomom became famous back in 2009 when she gave birth to octuplets, via in-vitro fertilization. Soon after, it was discovered Suleman already had six other children, also from in-vitro fertilization. Since then, Octomom has faced scrutiny and ridicule for being the single mother of so many children and being on welfare. Reportedly, the Octomom's debtors include her parents, a gardener, baby sitters and a water company.

Making the decision to file for bankruptcy is difficult. For some people burdened by debt, bankruptcy is an effective, smart solution. For others, bankruptcy may not be appropriate. Bankruptcy is best thought of as a last resort to resolve debt. If you have determined the time is right for you to file bankruptcy, an experienced bankruptcy attorney can simplify the process and represent your interests.

To learn more about bankruptcy, please contact an experienced lawyer in your area. 
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Disclaimer: The information throughout The Bankruptcy Directory is not intended to be or to replace legal advice. The information throughout The Bankruptcy Directory is intended to provide general information regarding bankruptcy law. If you are interested in filing for bankruptcy, contact a bankruptcy lawyer in your area.