Thomas and his wife Nancy filed for Chapter 11 bankruptcy after the economic recession and stock market crash badly affected their T-shirt printing business and wiped out their savings. This resulted in their home being repossessed last year. Since then they have been surviving on food stamps and have moved into their holiday home in Phoenix, Arizona.
According to their bankruptcy papers, the couple’s monthly expenses are paid for with the help of $916 in food stamps and cash assistance. Diapers alone cost them $400 a month. Their current average monthly income is just above $3,500 and they claim they only have $150 in the bank. Bankruptcy documents record that they have about $1 million in assets and $3 million in liabilities that include over $330,000 in credit card debts and over $14,000 in medical bills.
Thomas and Nancy have three children, Susan who is 2 years old, Austin aged 20 months and Jensen, now seven months in age. But despite their tight financial situation, they are still planning to have a fourth child. Thomas claims he can only get pregnant 4 days out of a year and he plans to conceive “sooner rather than later”. He said, “We are staying positive and we’re determined to make this a good family home. We’re both strong people and we’ve been through worse things in our lives. People might think this will have affected us and brought us down, but we refuse to let things beat us, and we don’t want anyone’s sympathy.”
According to Thomas, he plans to get his testosterone again and work out to get back in “good manly shape” after his fourth and final child.
If you are struggling financially, consider taking the step of bankruptcy. Filing for bankruptcy may save you from all your financial problems and give you a fresh start in life. Give us a call at (813) 200 4133 for a free consultation.
