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Former Olympic Gold Medalist Files for Bankruptcy

Rulon Gardner is filing for bankruptcy protection. His accomplishments include an Olympic gold medal in wrestling, being a contestant on The Biggest Loser (although he left the season early), and owning a health club in Logan, Utah. All of which just goes to show you that anyone can need to file for bankruptcy due to debt problems. In Gardner's case, he defaulted on a 2007 loan that he took out for an investment opportunity. The loan totaled approximately three million dollars. Gardner is disputing the debt claiming he was a victim of a fraudulent real estate deal. Although most individuals who file for bankruptcy are able to keep their assets, Gardner's assets are being auctioned off on October 27, 2012 to help pay back some of his debts. What a debtor is entitled to keep is determined by state law, but, even here in Texas where we have liberal laws to protect assets in a bankruptcy, Garner does have some extremely valuable assets for auction. He has autographed sports memorabilia including Steve Young collectibles, Nolan Ryan, and other baseball figures. Also for auction are some of his Harley motorcycles including one which is signed by Willy G who is the senior vice president of Harley Davidson. Are you struggling to pay your bills? Call 254-633-2876 today or email me at [email protected] for a FREE, no-obligation consultation to explore your options. Let my family help yours.

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