Gabby Douglas Will Be Able To Save Mom From Bankruptcy
By Mack Rawden 2012-08-05 23:25:28
During interviews prior to her daughter’s two gold medal-winning performances, Natalie Hawkins said Gabby Douglas’ training for the Olympics was very difficult because it separated the two and caused a lot of financial stress. Less than a week later, we’ve finally learned the true implications of that financial stress.
According to TMZ, Hawkins filed for bankruptcy earlier this year thanks to almost eighty thousand dollars worth of debt. She went the chapter seven route, which meant a payment plan was enacted for her to slowly right the ship. A little over four hundred dollars has been taken out of her monthly check since February , but now, thanks to her daughter’s accomplishments, it seems like her burden might be lifted.
As the women’s all-around champion, as well as a member of the winning US squad, Douglas has become a household name, and she will no doubt be offered plenty of advertising deals over the next few years. The millions likely to come from those arrangements will allow Gabby to comfortably help her mom out, which would probably be the right decision since her mom spent so much allowing her to train.
Filing bankruptcy is never a good time, but in this case, all those maxed out credit cards were probably worth it. Our sincerest well-wishes go out to the entire family who has great reason to celebrate despite this financial mess. Here's to hoping it's not a disaster much longer.