Ex-housewife files for Chapter 7 bankruptcy

Ex-housewife files for Chapter 7 bankruptcy

Reality television viewers may have seen the show "The Real Housewives of New Jersey" on the Bravo network. Fans of the show may also be aware one of the former stars of this show, Danielle Staub, has recently filed for Chapter 7 bankruptcyprotection.

Although she is a famous celebrity, some of her creditors may sound familiar to Arizona residents struggling with debt--American Express, the Internal Revenue Service and various law firms. According to the petition, her assets and liabilities have been estimated to be about equal, between $500,001 and $1 million. The Chapter 7 petition was filed in the United States Bankruptcy Court.

Among the law firms listed as creditors is one the star hired to file a complaint against her cast mates after a fight in a country club. In total, she listed 35 creditors, including the township where the television show was filmed.

In today's tough economic times, many people find themselves struggling with mounting bills. Often, expenses arise due to unforeseen and unplanned events, such as illnesses or mounting bills, like the former reality television star.

Filing for Chapter 7 bankruptcy, also known as liquidation bankruptcy, erases most bills. Though a debtor must meet the income requirements to qualify for filing for Chapter 7 bankruptcy, once filed it provides the fresh start many Arizona residents may be searching for. Not only are taxes discharged in certain situations, it is also possible to retain possessions including the filer's own home and car. Those debtors struggling financially should consider all of their options and should not hesitate to take the first step toward financial independence.

Source: northjersey.com, "Former 'Rea Housewives of New Jersey' star Danielle Staub files for Chapter 7 bankruptcy," Virginia Rohan, June 5, 2012

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