It’s Chapter 7 Bankruptcy for Octomom. Nadya Suleman Files for Bankruptcy Fresh Start.

Word is that Octomom, Nayda Suleman has filed for bankruptcy protection today. The court documents were not available at the time of this post.

But it is reported her filing listed $50,000 in assets against up to $1 million in debt.

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She gave it a good try to make ends meet but in the end it’s just a tragic story of expenses exceeding income and not being able to make the finances align.

I’m sure not many are surprised by this turn of events. I mean, how in the world would nearly anyone be able to afford childcare for fourteen kids and hold down a job with a big enough salary to pay the bills.

Financial problems are not uncommon in the Suleman family. Her parents filed for bankruptcy in 2008 and Nadya faced foreclosure in 2010. Currently Nayda is on welfare and trying to make ends meet.

Sadly, just another story that doesn’t end well. The good news is there is no where to go but up.

According to E! News, “I have had to make some very difficult decisions the year and filing Chapter 7 was one of them,” Suleman tells E! News. “But I have to do what is best for my children and I need a fresh start.” – Source

Thank goodness bankruptcy exists to give her the fresh start. The issue now is how does she turn things around and make them better moving forward.

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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