Octomom Tag

06 Jun Octomom’s Chapter 7 Bankruptcy Dismissed – Why and What Does it Mean?

Chapter 7 dismissed for incomplete filingsYou may have read news reports that Nadya Suleman, otherwise known as “Octomom,” recently filed Chapter 7 bankruptcy, only to have her case dismissed because she failed to file the required financial disclosure schedules. Ms. Suleman, as you may recall, made headlines in 2009 for giving birth to 8 children following fertility treatments, and adding to her existing family of 6 kids. Octomom is both unmarried and without any regular source of income. Ms. Suleman has been living in a four bedroom, three bath home she had purchased in 2009 from a gentleman named Amer Haddadin. Ms. Suleman’s purchase agreement was with Mr. Haddadin - he remained the sole borrower on the mortgage note, and she agreed to pay him $3,000 per month, which he would, in turn, use to pay the mortgage company. When Ms. Suleman failed to make her mortgage payments to Haddadin for 11 months, the mortgage lender initiated foreclosure proceedings. This pending foreclosure apparantly prompted Ms. Suleman to file Chapter 7 and thus stop the foreclosure.
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