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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
31.

mark    

Really? Maybe you should take this down and spare Gabby's mom. She like all good moms will go to the ends of the earth to help their children ... We should thank her for Gabby ... for how she raised a fantastic daughter that was able to reach her potential as a person and an athlete because of her.

718 days ago
32.

Faye    

Wow TMZ. You've managed to reach a new low.

718 days ago
33.

TMP    

Clearly, after posting about Ryan's parents yesterday and getting all the negative comments, TMZ doesn't care what it's readers think at all. Why are they digging around in the personal private business of the parents of our Olympic contenders? TMZ, you have no shame, no pride and no class. I may be just one reader, but at least I know that I won't be contributing to your readers anymore. Shame on you.

718 days ago
34.

Glenda     

Why TMZ is it so important to air someone business just because their daughter won a metal. Do you guys get a boner from these things? I think it shameful of you and your immature staff to go after these people and their personal struggle thinking this is important and necessary news.

718 days ago
35.

Just_Me    

The time and money she invested in her child has paid off! What a blessing for them to not have to worry about finances any time soon!

718 days ago
36.

Fat Mike    

I've had great fun reading and commenting on your articles over the last 5 years or so, but your recent insistence on resorting to gutter journalism has finally got to me .
I'm done with this site; at least until you hire some people who realise how you became popular in the first place.
I know you don't care about one person not coming back, but think you'll find I'm not the only one who's getting sick of your crap.
Have fun, and keep up the bad work!(Don't worry, I won't let the door hit me on the way out)

718 days ago
37.

Christian R    

I feel so terribly for the parents and families of the athletes you have exposed. This is NOT the reason i frequent the site and will no longer do so. This was extremely low.

718 days ago
38.

virgosiempre    

I am done with TMZ. There should be line that is NEVER crossed. Tabloids should be banned. ABSOLUTELY SHAMEFUL......I am NEVER checking this website again. Adios and thanks for smearing our Olympic medalists.

718 days ago
39.

anafreemansylvain@yahoo.com    

WOW!!!!!!!These people shed blood sweat and tears to represent our country and this is how you thank them. DONE WITH YOUR SITE!!!!!!

718 days ago
40.

Elizabeth    

I don't feel that Harvey Levin or anybody else at TMZ, has a right to publish Natalie's personal financial business, TMZ - you are sinking too low-

718 days ago
41.

static    

I'm not a financial advisor but I play one on TMZ and my advice to them is make sure your taxes are paid on whatever money you make from this.

718 days ago
42.

Vee    

What was the purpose of reporting this?? tmz has sunk to a new low!!! Whoever felt the need to go digging in her mother's financial business is low down. Remember KARMA is a BITCH!!!

718 days ago
43.

Sean    

TMZ is popular because it posts real stories about anything and everything, there's no favorites. This site isnt looking to make you its next drinking buddy. This isnt a high school populaity contest, like yahoo or even some of CNNs stories. TMZ finds real stories about people we see and read about. If you dont like the truth then go read Cosmo or some lame magazine looking to raise its ratings.

718 days ago
44.

renae    

Why in the world is TMZ reporting on the finances of the PARENTS of Olympic champions? You all just couldn't allow these people to enjoy anything, now TMZ is dragging out people's personal financial records. What gives you the right? Boooooooo!!!!!

718 days ago
45.

Holly    

ughh this is soo stupid !!

718 days ago
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