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Former model files for personal bankruptcy

Many people in California enjoy watching the on-goings of people who star on reality television shows. In fact, these types of shows are among the most popular being broadcast today on the airways. One of the most famous of those is 'America's Next Top Model'. Now, one of the former judges on the show, Janice Dickinson, has filed for a personal bankruptcy.

Dickinson filed for the personal bankruptcy after she discovered that she was unable to repay the debts that she had accumulated. Like many people in California, she had taken on debts from many different creditors. In the former television judge's case, the debts came in part from taxes owed and medical debts. The total amount owed was in the neighborhood of $1 million, her disclosures noted.

Though the exact details of her personal bankruptcy filing have not been published, the former model and television judge would have had to report not only the total amount of her debts and a list of creditors, but also the assets that she owns to the court. This list would include her current income from all avenues. These disclosures are required in every bankruptcy filed across the nation.

Filing for a personal bankruptcy is not an easy decision for people to make in many cases. However, when they are unable to repay the debts that they owe, the financial relief offered by such an action can be great. This is because, once a petition is filed, creditors must stop all collection efforts, including calls and letters. To find that type of relief, many will find it beneficial to file for a personal bankruptcy as quickly as possible when they decide that they are unable to repay the debts that owe.

Source: sfgate.com, "Janice Dickinson files for bankruptcy," April 22, 2103

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