Clearwater Couple File 13 Chapter 13s To Keep Home

WTVT Channel 13 in Tampa, Florida reports on the Joyce and Bryan Maryon of Clearwater and their odyssey in the Federal Bankruptcy Court. According to the story:

• "Court records show they’ve taken turns filing Chapter 13 and have skipped mortgage payments while living in a large two-story home in the upscale neighborhood of Coachman Ridge. FOX 13 first took a close look at the Maryons’ bankruptcy records back in 2004. Each time one of them filed Chapter 13, it automatically stopped the bank from foreclosing on their house. But records also show the couple never followed through on a plan to pay off their debts. In May of 2004, the Maryons owed $188,000 on their home [and] had together filed Chapter 13 a total of 10 times. According to the court trustee in May of 2004, they hadn't made a payment since 1999."

Reportedly, they have since refinanced their home and, according to the story, "they now owe more than $500,000 on that same house and together have filed chapter 13 a total of 13 times."

For more, watch investigative reporter Doug Smith's Fox 13 TV news report (click screen to activate video) or, to read the online report, see Thirteen times for Chapter 13.

Go here for other posts on serial bankruptcy filings. SerialBankruptcyFilings