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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

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1.

EggsOverEasy    

All of us including Gabby's mom would have been much better off tonight if TMZ didn't think this was something that was newsworthy.. I am beginning to hate this pathetic bullsh*t site and find that more often I am less entertained and more insulted/dismayed at TMZ's insensitivity and choice of stories to cover, many of whom are suspect with regard to motive or motivation.. Really, it is getting to be pretty f*cking pathetic..

758 days ago
2.

IKnowthismuch    

I can't understand why it's so important to TMZ to start digging into the parent's finances. Gabby's mother has had a rough time, having to go through a divorce in the last couple of years and even telling CNN that she sold whatever she had to get Gabby the training that she needed she didn't realize that it cost so much but she knew her daughter was good at what she does. Here's some advice to the people that works at TMZ, put your parent's financial information up here and let us read it. We want to comment on their lifestyle choices too.

758 days ago
3.

BlindFury    

Hey TMZ a little TMI.

758 days ago
4.

AJFS    

Harvey Levin started TMZ by posting pictures of celebrities picking up dog crap in their front yards. He hates and is jealous of anyone who is more successful than he is. Shame on Harvey Levin and the TMZ staff for scraping the bottom of the barrel.

758 days ago
5.

Poppycock    

No American pride TMZ.

758 days ago
6.

smmrclrk    

TMZ you all have stooped to an all new low. This article is disgusting. I hope its removed before their family gets word that you all have posted such sensitive information. Shame on you all... SMH

758 days ago
7.

PopTart    

All I see here is a mom who did what she needed to do for her daughter and it paid off! Good for her! I'm proud of her for believing in her daughter and I'm proud of Gabby!

758 days ago
8.

Hohan    

Let's see, assets of $163,706.10 and debt of $79,754.14. I'm not an accountant, but I think I could have shown her how to avoid the bankruptcy.

758 days ago
9.

LDB    

Five dollars saying Michael Philips mom is next

758 days ago
10.

Gigi    

What has happened to this website? This isn't celebrity gossip. This is not what I come to this site for. As far as I am concerned, celebrities are fair game up to a point. They make millions of dollars off of their fans, and with that comes a certain lack of privacy. But these athlete's parents don't deserve this crap. It has nothing to do with anything.

758 days ago
11.

itsnoise    

Where is the button to flag an article that I find offensive?

758 days ago
12.

Selene    

Wow TMZ you just showed how classless and insensitive you guys are. Gabby's mom is NOT a celebrity and we are certainly not privvy to her finances. Can we just let Gabby shine at this important time of her life and not post something this idiotic? You guys are embarrassing.

758 days ago
13.

josephgein    

Fellow ANONYMOUS: Let's "delve" int the finances of Harvey Levin. Print findings here for all to read. LOLz will ensure when it is discovered how much $ he spends on anal lube and buttplugs. Hell, let's get info on the entire TMZ staff. F u c k I n g parasites.

757 days ago
14.

kim is a publicity whore    

this is noone's business. shame on you tmz.

but since it was posted, ill just say that congratulations to Gabby, she deserves her win. :)

757 days ago
15.

tumh2o    

TMZ staff is trying to discredit all the American Olympic athletes families for some reason.. You normally obtain website traffic at the cost of your collective integrity so I guess this is par for the course.. Next you'll inform us on which athletes have had abortions in the past too I'm sure..

I gladly await your eventual epic fall back to obscurity TMZ...

757 days ago
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