Octomom Files Bankruptcy
The drama has not finished with Nadya Suleman, Octomom. This mother of 14 just filed for bankruptcy claiming she has over a $1 million in debt. Suleman said she made some difficult decisions this year and filing Chapter 7 is one of them.
In court filings, she reports up to $50,000 in assets. This means she owes more than 20 times her net worth. She owes money to her father, DirecTV, the water department and Whittier Christian School. On her four-bedroom home, she owes over $30,000 in rent.
The owner of the home said his own credit was damaged by letting the home go into foreclosure. The auction was scheduled April 30, 2012 but it has been postponed for a week now.
The unemployed mother has been living off government help with food stamps and Social Security disability payments. Recently, we know Octomom posed nude for rent. Maybe she’ll start looking for a steady job now, or not.
Octomom Posed Naked to Make Rent
Octomom has been in the spotlight for many years now. This is what happens when giving birth to 14 kids, lose a home to foreclosure and become desperate to survive this cruel cruel world. In March, Nadya Sulemen posed nude to earn $10,000 for a photo shoot. This money was enough to get her into a new rental property.
Once again, the media has their eye back on the mother of 14. This time she is being accused of child neglect. Photos of the family were released portraying the family living in “squalor.” The photos revealed children locked in rooms and toddlers half-naked using the training toilets outside of the home.
The photos did raise a red flag to California child welfare officials. They investigated the home and determined it is safe.
Suleman stated she uses the media to pay the bills now, but hates the reference as Octomom. She went onto say, “I wanna’ take a freaking sledgehammer and crack her in half. That is some freak that they created in the media. I need it to be done.”
Kristin Cavallari’s Family Laguna Beach Home Sold at Auction
Kristin Cavallari, former MTV’s Laguna Beach and The Hills star, recently lost her family’s dream house to a public auction the previous month. The home belonged to her father, Dennis Cavallari and stepmother, who seemingly owed $7.5 million. The father reported that he could not afford the mortgage payments on this five-bedroom and five-bathroom residence.
The home sat on 3.10 acres with a gorgeous panoramic coastal view from almost every room. It took over eight years to build with approximately $2 million of décor inside. Previously appraised at $19-$20 million, this beach house sold at auction for $6.1 million.
Cavallari was recently on Dancing with the stars. She is expecting her first baby with fiancé, Jay Cutler the Chicago Bears quarterback. There has been no word if she attempted to save the home before auction.
Nicholas Cage in Tax Problems Again
Nicholas Cage is once again back in the news for financial problems. The Ghost Rider actor just received a very large bill. The IRS is asking for $6.25 million in back taxes from his 2007 earnings.
Cage made a statement that over the life of his career; he has paid at least $70 million in taxes. He went on to say he is working with new business management, which should help this actor finally pay off his debt.
In 2009, Cage’s properties had tax liens placed on them by the government. He ended up foreclosing on four of his residences. Two of those properties were in New Orleans then the other two were Los Angeles and Las Vegas.
With the recent payment on his taxes, this should help him get back in the clear. Finally, he is getting some good reviews in life unlike the Ghost Rider sequel.
American Idol’s Ruben Studdard in Tax Liens Trouble
American Idol sensation, Ruben Studdard is in some tax liens troubles. According to the Alabama public records, Studdard and estranged wife owe $180,216.73 in federal taxes. The taxes are from 2009.
This is not the first time Studdard has been in a financial mishap. In 2008, he had a tax lien filed against his Alabama property. It was nearly $200,000.
It may be time for Studdard to start pushing out more albums. He currently has more tax liens against him than he has platinum albums.
