Posted by | August 5, 2012 11:13 | Filed under: Top Stories

The win for Gabby Douglas and accompanying endorsements will save the family from financial difficulty. Natalie Hawkins, Gabby’s mom, filed for bankruptcy just before the games began.

“According to documents filed earlier this year in Virginia, Natalie Hawkins filed for Chapter 13 … which is far less severe than Chapter 7. The docs state Hawkins has assets totalling $163,706.10 and debt totaling $79,754.14.

“Her creditors include:
Capital One — $1,534
Student loan — $4,350.23
Sprint — $158.78
T-Mobile — $413
Orthodontist in Iowa (where Gabby trained when she was 14) — $408

“With the Chapter 13 filing, Hawkins has agreed to a monthly payment plan. She began making payments of $408/month back in February … to a trustee who will divy it up among her creditors.”

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Copyright 2012 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.