From 12NewIssues.
Jacqueline Laurita one of the Real Housewives of New Jersey cast members including Jacqueline Laurita’s husband Chris recently filing Chapter Seven in a federal bankruptcy court.
Jezebel’s headline: All Of The Jersey Housewives Are Going Broke, which, if you read the post, reveals the headline is a tab bit misleading. Two of the Real Housewives have filed for bankruptcy with one of the Real Housewives potentially staving off bankruptcy with the sale of her house and a sex tape.
Jezebel:
According to her bio on Bravo, her husband Chris (the brother of Caroline and Dina Manzo) “owns a wholesale apparel business.” But his company Signature Apparel Group, LLC — which included troubled brands like Rocawear and Eve’s Fetish — had “an involuntary petition for liquidation under Chapter 7 filed against [it] in the U.S. Bankruptcy Court.”
Translation: Chris’s outfit was unable to pay its loans, and creditors forced the bankruptcy filing. Essentially, such a filing means that the a trustee is appointed to the business in order to sell off its assets and pay its debts.
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There are different chapters of bankruptcy. Chapter 12 or 13 Bankruptcy help you restructure your debts to pay them off with your existing income. Chapter 7 bankruptcy allows you to get a "fresh start." However, in order to file for Chapter 7 Bankruptcy you must make less than the average income for a family of similar size in your state. To find bankruptcy information specific to your state, just click your states link.
ReplyDeleteThanks for the information..We are in the middle of a chapter 7 bankruptcy n are 5 months behind on the house payments. The house place wants a relief from the stay or all of the money from where we are behind in. Can we go to a chapter 13 bankruptcy now in order to save the house n can we do it on only the mortgage company?
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