Octomom Files For Bankruptcy

“Octomom” Nadya Suleman filed for bankruptcy Monday, saying in a court filing that she has as much as $1 million in debt.

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Suleman wants a fresh start and said in a statement that filing for bankruptcy is what’s best for her children, according to the Orange County Register ( http://bit.ly/IDaiOh ).

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“I have had to make some very difficult decisions this year, and filing Chapter 7 was one of them,” Suleman said.

The La Habra mother of 14 reports up to $50,000 in assets in federal court filings, which means she owes more than 20 times her net worth.

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Suleman is filing Chapter 7 bankruptcy, which means a court-appointed trustee would liquidate her assets to pay off creditors before she is discharged from most of her debts.

Among others, Suleman owes money to her father, the city’s water department, DirecTV and Whittier Christian School, where at least some of her children are students.

Suleman also owes more than $30,000 in rent payments on her four-bedroom house.

The home’s owner, Amer Haddadin, says his own credit has suffered as he allowed the home to go into foreclosure proceedings by not making the mortgage payments.