T-Boz, the former member of the hit group TLC, does not seem to be as successful in declaring bankruptcies. It turns out that T-Boz’s third bankruptcy attempt was tossed by Judge James R. Sacca of the U.S. Bankruptcy Court, reports the Wall Street Journal.
The kind of bankruptcy she had for is called a Chapter 13 Bankruptcy, as previously reported by FindLaw’s Atlanta Bankruptcy Law News. During a Chapter 13 bankruptcy, you will be required to make a structured repayment plan that shows how you will use your income to pay off your debts over time, typically three to five years.
Well, it turns out that T-Boz was not keeping up with the Chapter 13 requirements. So her bankruptcy trustee, Adam M. Goodman, filed papers with the court saying she was coming up short. He pointed out that she was not making the payments required of her, nor did she attend a meeting with her creditors, nor did she provide information about her Benz. There was also the matter of her inability to show proof of the $250,000 in child support she's allegedly owed.
As a result of Judge Sacca's order, T-Boz is prohibited from trying another bankruptcy for 180 days.
T-Boz's attempt (and failure) to go through a Chapter 13 bankruptcy illustrates the challenges involved in a bankruptcy. The trickiest part of a Chapter 13 Bankruptcy is the minute detail involved in the repayment plan. But having an experienced attorney around can help you stay on track.
For more information on a Chapter 13 bankruptcy please see the information below.