New York, August 6 (FinanceEnquiry.com) ? It has come into the limelight that in Eastern District of Virginia, Olympic gymnast, Gabby Douglas? mother filed for bankruptcy earlier this year and this has been shown by records of the court that it was filed in the month of January.
Following the information that the parents of companion US Olympian Ryan Lochte were facing foreclosure, which is actually a procedure that is taken when the borrower is not able to pay the loan on time in Florida.
Douglas? mother, Natalie Hawkins, has been filed for Chapter 13 bankruptcy that let people to rearrange their finances and pay down debt over numerous years. Being the first ever African-American woman to win an all-around gold medal in gymnastics, the young Douglas has become one of the most admired athletes at the Olympics games that are currently running in London. Till now, she has won two gold medals and is known commonly as ?Flying Squirrel? around the planet.
This young star has already been enrolled to come into sight on the cover of a Corn Flakes box and moreover this, her agent has dealt with several mails from various businesses, talk shows and magazines that have shown keen interest in Douglas making her to earn huge sum from advertisements. From past two year, she has not visited her home at Virginia Beach as being under the training sessions in Iowa.
Furthermore, with a townhouse in Virginia Beach and a Nissan Maxima of 2007 accounting for the massiveness of it, Hawkins has been listed in the filings of bankruptcy having assets that is approximately $163,706.? Around $80,000 in debts has also been listed by Hawkins wherein aggregate of that is from her mortgage. Roughly $2,500 income a month that comes from benefits of Social Security disability and child support also gets listed by Natalie Hawkins, single mother of four, who no more lives with her husband. Additionally, according to the order that was issued in March, for over a period of five year Hawkins has to pay $400 a month against her debts.
Source: http://www.financeenquiry.com/mother-of-gymnast-gabby-douglas-files-for-bankruptcy_24908.html/
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