New Jersey readers may be familiar with the famous television actress, Nicole Eggert, who once starred in the hit show "Baywatch" and recently filed for Chapter 13 bankruptcy. She has previously filed for Chapter 13 bankruptcy twice before and both times, the cases were dismissed. Only recently, a judge has agreed to accept the application.
Chapter 13 bankruptcy is a viable option for individuals who find that their monthly income cannot cover their expenses and debt or loan payments. This type of predicament can leave anyone, including New Jersey readers, in an impossible financial situation. Ms. Eggert claims that her expenses each month are more than her expected income. She maintains that her debts and expenses are so high that she is behind $60,000 in house payments.
Nicole Eggert claims that her monthly income is approximately $15,000 per month. According to what is specified on the bankruptcy paperwork, her monthly expenses include childcare costs of $3,000, management costs of $2,000 and more. Her monthly expenses amount to more that $15,000 per month. A judge has agreed to her application and has enacted a plan that would allow her to pay her expenses, as well as her creditors.
While this famous actress may make more money than the average American, anyone may find themselves in a seemingly impossible financial situation. Chapter 13 bankruptcy can allow a person to get a fresh start that is needed, as well as a possible plan to pay off debts in a timely and court-approved manner. Before making any serious financial decisions, it is important to have all information available before moving forward.
Source: Radar Online, Drowning In Debt! 'Baywatch' Star Nicole Eggert Files For Bankruptcy, No author, Jan. 31, 2014