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.”
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.
