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Gabby Douglas

Mom Filed for Bankruptcy

Before Olympic Triumph

8/5/2012 1:00 PM PDT BY TMZ STAFF
EXCLUSIVE

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update_bar

8/6 -- Hawkins spoke to reporters about her financial history in London yesterday ... saying, "It's my story, it's part of me. I'm not even embarrassed about it."

She added, "It shows that even though I didn't like to have to do it, I'm glad there was something there for me to be able to protect my home."

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Just a few months before Gabby Douglas won her gold medal -- and opened the door to countless opportunities that will undoubtedly score her millions of dollars -- her mother filed for bankruptcy ... TMZ has learned

According to documents filed earlier this year in Virginia, Natalie Hawkins filed for Chapter 13 ... which is far less severe than Chapter 7. The docs state Hawkins has assets totalling $163,706.10 and debt totaling $79,754.14.

Her creditors include:
Capital One -- $1,534
Student loan -- $4,350.23
Sprint -- $158.78
T-Mobile -- $413
Orthodontist in Iowa (where Gabby trained when she was 14) -- $408

With the Chapter 13 filing, Hawkins has agreed to a monthly payment plan. She began making payments of $408/month back in February ... to a trustee who will divvy it up among her creditors.

However, with Gabby’s new found fame and the potential to make a bloody fortune, it's likely her mother will never have to worry about bankruptcy or money problems ever again.

Go USA.

For more sports stories, check out tmzsports.com!
542 COMMENTS

No Avatar
136.

lsa3000    

TMZ, what made this so important about Gabby's mother financial situation, she has done what alot of us mom's would do for our children..This young star has made history..and has represented the USA by winning the GOLD!!!.TMZ staff, and Harvey you are a bunch of sh*t

745 days ago
137.

russ     

And why is this news, scrapping the barrel, or nothing to report on fat ass Kardashian????

745 days ago
138.

jenna    

As a mother of an athlete who has the talent to make it far I know first hand how much it cost to do this for your child. It's not cheep for travel, coaches and all the other costs for their sport. Give her a break, she has probably spent every dime of that money on her daughter to make where she is.

745 days ago
139.

Kelly    

Obviously the bullied bus monitor lady should use some of her online fortune to bail out the Olympic champion's mom. Duh.

745 days ago
140.

nORRis8    

Hahaha..........the American deep. Unaccountable Debt.

The US gov't owes over 14 trillion dollars world wide. It is the poorest country in the world. Credit does not make one rich or printing more money.

745 days ago
141.

Ben    

This is no ones business. Stick to celebrities.

745 days ago
142.

minks31    

TMZ, you are on to some new lows by putting gabby Douglas and Ryan Lochte family financial problems on blast for everyone to see. I mean these people just got a little "fame" and just represented America to the fullest and this is what u do when they get back...smh...I'm just glad that both of them will have the means to help their families out now for the sacrifices they made for their careers.

745 days ago
143.

Pound Sand    

TMZ what the fvck are you doing???? Enough of this shiit!!! You are nothing but a bunch of jealous morons who love nothing more than to report on anything to destroy people who are not celebrities. You are sick, insensitive little boys and I look forward to your failure,

745 days ago
144.

TrixLaRue    

Disgusting reporting. Let this girl have her time in the limelight that she deserves. Quit dragging the parents through the mud. Obviously they make a lot of sacrafices for these kids.

745 days ago
145.

Howie1969    

I know it is news but let the girl have her moment this is just sad sometimes things are better left unsaid she is not whitney ,Lindsey or Kim she just her a off for the us COME ON

745 days ago
146.

rebroxanna    

I feel sorry for the parents who invest everything in their children's athletic careers and the kid's do their best but fall short of fame and fortune. In Natalie Hawkins' case her risk paid off. But for every Gabby, there are probably hundreds of boys and girls who don't quite make the grade. But as a parent of kid who has talent and a dream, what do you do?

745 days ago
147.

No comment    

TMZ lets see the finances of your staff and their parents. From calling the best Olympian ever a Loser, to talking about the parents finances you have show your only really good at sucking Kim K's arse sweat.

745 days ago
148.

Bill Leslie    

nice scam - run up a bunch of debts, default on it and screw everyone over, then cash in big on "Gabby money" and walk away scott free - typical n*****

745 days ago
149.

ducrider    

How come the mother & daughter always have different last names ? Who's your daddy ?

745 days ago
150.

shawno_90    

well here we go...boycotting TMZ... harvey can go back to his old career of taking pictures of celebs while cleaning up dog ****...lets SERIOUSLY not supoort this SOB... God bless u Gabby and family you made the USA SOOOOO proud~~!
tmz...burn in hell

745 days ago
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