Actor Stephen Baldwin Files For Bankruptcy
July 23rd, 2009 - 12:25 am ICT by GD
Actor Stephen Baldwin, the star of films including “Usual Suspects” and “Bio Dome” has reportedly filed for Chapter 11 bankruptcy protection at a court in New York. The court papers reveal that the actor along with his beloved wife Kennya, reportedly owes $2.3 million on two mortgages on a property in New York city which is worth of a mere $1.1 million.
The afore mentioned reports suggest that Mr.Baldwin’s debt has exceeded the value of his property thus forcing the actor to file a petition for bankruptcy protection. The 43 year old actor also owes $70,000 as a credit card debt. Not only that, the actor moreover has a tiff with the tax department with the debt grossing a whopping $1 million.
The court papers revealed that Baldwin had literally no assets except his roof top home. Even the much talked about tattoo of Hanna Montana wasn’t considered as an asset, thus leaving the actor in dire straits. His wife, Keanny’s name was also mentioned in the court papers. Inside sources reveal that an auction for the home originally scheduled to take place in July 24 has been re scheduled today.
The 43 year old actor tried to sell ff his house in the year 2006 (as per the reports) but failed miserably. Even Baldwin’s career took a dip since last decade or so, and the actor was seen more on television shows and reality series rather than on films.
It seems that recession is taking a toll on the life of celebrities, thus leaving the in a state of despair. The petition filed by the actor didn’t surprise many as Baldwin was facing financial crisis for quite some time.
- Stephen Baldwin Urges For A Bailout Through Website - Apr 30, 2010
- Harrisburg Pa. files for bankruptcy - Oct 12, 2011
- NYC Housewife Sonja Morgan blames John Travolta for her growing debt - Nov 18, 2010
- National Enquirer: Publisher files for bankruptcy - Nov 18, 2010
- Malaysian Indian businessman spared jail term - Mar 02, 2011
- Christina Aguilera and Jordan Bratman 'reach divorce agreement' - Feb 10, 2011
- Real Housewife Teresa Giudance Breaks Silence About Bankruptcy - Jun 09, 2010
- Sex.com Goes Bankrupt, Creditors Interrupt Auction - Mar 21, 2010
- U.S. announces $773M settlement with GM to resolve environmental liabilities - Oct 20, 2010
- Longoria's Vegas restaurant goes bankrupt - Jan 08, 2011
- Sanjay Dutt To File Petitions In Court Soon - Dec 30, 2010
- Former baseball star Lenny Dykstra indicted in bankruptcy fraud case - May 07, 2011
- National Enquirer Files For Chapter 11 Bankruptcy - Nov 18, 2010
- Footballer Jason Euell goes bankrupt - Jan 24, 2011
- Former baseball star Lenny Dykstra charged for bankruptcy fraud - Apr 16, 2011
Tags: 1 million, beloved wife, bio dome, chapter 11 bankruptcy, chapter 11 bankruptcy protection, credit card debt, despair, dire straits, financial crisis, hanna montana, kennya, last decade, petition, quite some time, reality series, recession, stephen baldwin, television shows, tiff, usual suspects
