Karen Derrico Bankruptcy History Emerges After Divorce
Doubling Down With the Derricos fans slowly get used to the idea that Karen Derrico and her husband Deon got a divorce. Now, it’s been revealed that the TLC star suffered financial hardship in 2018 and filed for bankruptcy. Will she cope with the financial arrangements agreed upon with Deon?
TLC Star Karen Derrico Has To Pay Medical Insurance
Doubling Down With the Derricos fans quickly heard that Deon will pay $1,116 per month for 13 of their 14 children. That doesn’t sound like a lot of money. After all, she agreed to cover the medical insurance for the kids. Presumably, as they co-parent, Deon will provide some of the money for their upkeep when they visit with him.
Some fans suspect that the reason Karen Derrico and Deon filed for a divorce might be for financial reasons. The news that Karen previously filed for bankruptcy may be related to that. Two different things emerged this week. One is that jointly, the TLC couple has an estimated net worth of $6 million. But that might not be accurate. And, the other news was about bankruptcy.
Karen Derrico Shares Shocking Post Amid Divorce From Deon https://t.co/qPK9FkOF4o
— TV Shows Ace (@TVShowsAce) June 17, 2024
2018 Bankruptcy After Diez, Dior & Carter’s Birth
InTouch Weekly reported that the TLC star filed for bankruptcy in 2018. At the time, “she listed assets totaling $12,519 and liabilities totaling $47,567.” Actually, it didn’t look good because she also noted that her “monthly expenses exceeded her income [of] $2,480.” She listed her expenses as “$2,560.”Â
Interstingly, Karen Derrico wasn’t a stay-at-home mom at the time. Instead, she struggled to pay off “a student loan” of “$27,000,” while working as “a teller at Bank of America.” Her assets included some “modest homes,” a car, and various household goods. A court-appointed “trustee” wasn’t happy with “payments” and “documents.” So, they asked for “it to be dismissed.”
Chapter 7 Was Applied
What is Chapter 7? After Deon Derrico was added to the paperwork, the court took the case to “Chapter 7.” What does that mean? According to the United States Courts website, Chapter 7 means:
This chapter of the Bankruptcy Code provides for “liquidation” – the sale of a debtor’s nonexempt property and the distribution of the proceeds to creditors.
The bankruptcy filing concluded in 2019 and the TLC show premiered the next year. So, that might have been a very welcome development for Karen Derrico. Of course, she probably hopes that divorce does not cause TLC to pull the plug on the TV show.
What are your thoughts about Karen Derrico filing for bankruptcy in 2018? Do you think the combined estimated net worth of $6 million might be incorrect? Will she manage with her child support of $1,116 per month? Sound off in the comments below, and come back here often for all your Doubling Down With the Derricos news.
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Imagine the “insurance” cost for 14 children and I read she’s pregnant again. She will be eligible for more entitlements divorced and black female. Possible shakedown of poor taxpayers.
How was Deon not named in the bankruptcy if they were married in 2018, aren’t they both responsible? It’s not the 1st time they’d filed either. He has filed under different names/alias. He’s a total scam artist. He has the kids always wearing those shirts w/Derrico emblazzened on them hoping some music producers will make them the new Jackson’s. Oh and don’t forget, father of the year let Karen name the poor baby that passed away @ birth Carter, not a name that begins with “D” like papi’s, what a man, 🙄. I wish the children well & hope Karen gets more child support if he really is worth 6 million bc Karen will be paying alot more for medical insurance for 13 kids, especially for the baby who has heart issues and the boy who had skull reshaping surgery.
Her personal business is hers not mind. And I’m sure that she and her family feel the same.
I’m certainly not surprised that Karen filed for bankruptcy given the number of children she has and what it likely costs to to care for all of them. That said, I find some of the facts laid out in this article cast a suspicious light on the way that Karen went about it. In fact, I find many things about the way this family manages their finances to be suspicious! Case in point, the amount of child support that Deon is required to pay her is an absurdly low amount given the number of children that need to be supported and what his income should be when the show is factored in.
There is something about the way this whole divorce came to be that bothers me from the financial arrangement to how quickly the divorce was granted. Something just doesn’t seem right and I won’t be at all surprised if in the future it comes out that this was some kind of elaborate hoax or a legal maneuvere for some sort of financial gain.
Of course I could be wrong too.
I thought that I was the only one who thought that as well. I feel that it could be a hoax as well to gain more money and fame.
Right. A storyline overproduced by TLC!!!
too bad, kids always suffer
I am so shocked. I thought they had it all under control. I still don’t know why there was a divorce. Gotta be some other reason.
I always thought she was High Maintenance, how many wigs does that woman own? The different colors of sweatshirts everyone wears (not cheap)Also was wondering why a new house for all. They will need two (those 2 mortgages back to haunt you, Deon). Those children are really cute though, everyone of them. I wonder how they will cope, feel bad for the rug being pulled out from under them. Good Luck and God Bless the whole family
Yeah, it doesn’t add up.What about income from show? Do kids also get check for show? I always thought that something wasn’t right with her.