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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
91.

Beachlover888    

I am from Gabbys home town of Virginia Beach,VA and I just sent info about this story to our local News. Your gonna have some serious haters TMZ!!

806 days ago
92.

Rhonda     

I'm so disgusted that TMZ would report this private matter of an olympic champion. She and her mother deserve better. Shame on you!

806 days ago
93.

Debbie    

And what does that have to do with the daughter? Why did we need to know about?

806 days ago
94.

taz    

What is the matter with you people? I can't wait till Harvey gets caught in a dirty men's room some day doing something or someone scandalous. Only way for some people to know empathy is when their neck is on the line.

806 days ago
95.

Mikey    

And Serena Williams does the "Crip Walk" dance at the Olympics. You just can't take the ghetto outta some people. Lest just hope she doesn't do a drive by and once again embarrass the USA.

806 days ago
96.

Mikey    

Thanks you TMZ for keepin' it real!

806 days ago
97.

big'un    

When I was a kid one of our neighbors had a girl that was an amazing diver. She practiced every day she could at the local community college and when the college pool wasn't available her parents drove her 125 miles to an indoor Olympic pool in the LA area . The only day she didn't practice was Sunday until she was about 12 years old and began to realize the Olympics was a very real possibility, that's when her family decided to help her realize her dream she and her mom moved down south so she could benefit from that pool and coaches 100%. Well as it turned out she was good enough to make the Olympic team, she went and competed, unfortunately she didn't get a medal. But the financial strain on that family nearly drove them into bankruptcy. Her mom should be commended for her sacrifice so her child could realize her dream.

806 days ago
98.

ManiacalZebra    

Gymnastics training isn't cheap. I'm glad she went chapter 13 instead of bailing on everything.

806 days ago
99.

Lovey McPherson    

WHY would you feel the need the give a BLOW by BLOW account of her finances????? If Natalie decided to sue the pants off of TMZ, she'd have every right to! I understand the piece of info may have been newsworthy, but to give DETAILED payment info is just DEAD WRONG!!!! OMG I can't believe you all stooped THIS low!!!!

806 days ago
100.

Northerngirl41    

F YOU TMZ--YOU SUCK for doing this to 2 Olympic hero's 2 days in a row!!!!!!

806 days ago
101.

C88101    

Purel classless!!

806 days ago
102.

Dibs    

TMZ how about you do the "decent' thing ans stop posting stories about Olympians parents going broke. This is the best time of their lives and you are ruining it with these stories about their parents filing for bankruptcy.

Let these young people enjoy "their" moment, don't tarnish it with your zest to find an exclusive story. Has it ever dawned on you that some parents do not want their kids to know about the state of their finances?

Come on Harvey, do the decent thing here!

806 days ago
103.

Jennifer    

Shame on you, TMZ!! Of course the parents of athletes are going bankrupt. They put everything on the line for their child's career. I can even understand that you'd want to report about bankruptcy in he Olympics. But listing the debt? Disgusting!

806 days ago
104.

Lance    

I honestly have enjoyed TMZ over the years. This,however is horrible and I will never visit their site again. I did this with Perez years ago and don't see any difference. Horrible horrible story.shame on you Harvey

806 days ago
105.

seashell4ever    

None of our business, but at least your not like the other news places that just put the negative, u did a positive....

806 days ago
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