In the recent season, Tarik appeared a bit uncertain about Hazel bringing a third person into their relationship. But it doesn’t look like a major issue compared to his financial situation. The reality TV star filed for bankruptcy last month. He’s almost half a million dollars in liability, $475k, to be precise. His confirmation hearing is on 1st April for the chapter 13 bankruptcy. Let’s take a detailed look.
90 Day Fiance Star Attempting to Avoid Foreclosures, Paperwork Reveals Hazel Is His Wife
According to a bankruptcy expert, Chapter 13 is more of a debt reorganization plan. This means that Tarik is trying to save his assets and it’s possible as long as he has a decent flow of income, as reported by Soapdirt. All the effort is to avoid foreclosure on his property, car, and other assets. His creditors include a credit card company, the toll service EZ-Pass, Children’s Hospital, company providing financial plans on personal items. He also owes a total of $4k to the Virginia Dept of Taxation and IRS for Federal Tax.
Tarik has listed his house as collateral to a credit and finance company. His bank debt to HOA is more than $10k. The problem for Tarik is HOAs can force a sale if there is a past due amount. He might be trying to avoid moving out by filing for bankruptcy. Chapter 13 can entitle Tarik to pay a minimal amount or maybe not pay anything at all. If that’s the case, he can get out of the mess.
Tarik has listed $2300 as rental income and is listed as an ‘Exhaust Hood Tech’ for his profession. He has been sending $100k to for wife Hazel’s son and according to the petition, he’s married to her.
90 Day Fiance: Interesting Tidbits About Tarik’s Bankruptcy Day Fiance: Interesting Tidbits About Tarik’s Bankruptcy
Tarik owns some inoperable 1960s classic cars and owns more than $90,000 as federal income tax. A handgun, $150 wall art, $800 worth of apparel and jewelry, two gold necklaces valued at $900, and “God Bliss Woman” a song’s ownership valued at $25. Tarik has mentioned $1400 per month for his reality TV appearances. If we subtract his expenses from his monthly income, Tarik has around $800 of net income.
The form asks for some income information about his wife Hazel. But the reality TV star answered all the asked questions with nothing but zeros. While the bankruptcy filing was in process, a debtor filed an objection. It read, “the proposed Plan does not set forth a reasonable schedule and time period for payment of arrearages on the deed of trust.”
It’s not the first time Tarik has filed for bankruptcy. He did the same thing in October 2008 and March 2009. A judge dismissed the second filing. Now, after filing for Chapter 13, he has to make his first filing Chapter 7. Let us know what you think of Tarik’s questionable financial habits in the comments below.