Credit Cards | Debt | Car | Chapter 13 | Chapter 7 | Foreclosure | Back Taxes | IRS | Hospital Bills

The Help You Need...
to let go of your debt.

Menu

Popular HGTV stars seek bankruptcy protection

Arkansas readers may be familiar with the HGTV hit "Kitchen Cousins." The show features renovation projects completed by two contractor cousins, who are also a part of several other HGTV productions. The men are currently in the news after they have both sought bankruptcy protection in the wake a of a civil judgment against them.

The lawsuit was filed by homeowners who hired the men to complete renovation work on a home formerly owned by Yankee Don Mattingly. There was a dispute concerning the quality of that work, and the matter went before a court of law. Specifically, the homeowners asserted that the contractors failed to properly sheetrock part of the property, improperly installed ductwork and failed to connect several sections of plumbing.  

The result of that lawsuit was an award of $860,000 to the homeowners. The parties sued include the two men and a construction company owned by one of them. In the aftermath of that lawsuit, both men have filed for personal bankruptcy in an attempt to reorganize their finances and avoid significant losses associated with their debts.

In seeking personal bankruptcy protection, the stars of "Kitchen Cousins" are taking advantage of a legitimate process of reorganizing their debt, one that is available to individuals in Arkansas and across the nation. The recent award will be included within that accounting of debt, and a repayment plan will be created and approved by the Bankruptcy Court. In this way, the contractors will be able to use their assets to pay down all of their financial obligations, and debt that remains after that process is complete could be discharged.

Source: Wyckoff, NJ Patch, "HGTV's 'The Cousins' File For Bankruptcy Over Bergen Renovation", Daniel Hubbard, Aug. 12, 2015

No Comments

Leave a comment
Comment Information

Privacy Policy | Business Development Solutions by FindLaw, part of Thomson Reuters.