Runway Model BankruptJune 24, 2014

Janice Dickinson, age 59,  the ex- model and former judge on the hit television show America’s Next Top Model, has filed for bankruptcy.

Her debt has reached a climactic total of nearly 1 million.

Where did this all amass from? It all began circa 2008 with continually withdrawing from a checking account, in which the bank was requested by Dickinson to use advance payment to cover the net, which amassed a total of $225,000. Following this, she also rattled off a lie when she said she had upcoming endeavors, ones that she could pay off when she was finished, however, this turned out to be a bold, false claim. These claims included a $100,000 proposed deal from her days on America’s Next Top Model and a contract with the Home Shopping Network, whom also was projected at $100,000.

So what transpired after these events? The terms of the debt were to be repaid in a promissory note, labeled with a $275,000 price tag, comprised of $225,000 of advanced payments and $50,000 in living expenses. Later on, it was reviewed and the Los Angeles Superior Court ordered the note at an amount  around $304,000.

After her March 2013 bankruptcy filing, the bank filed 2 lawsuits against her in Bankruptcy Court:  1) seeking to have the debt of  $304,000 not be discharged and 2) seeking disclosure and recovery of hidden income and hidden accounts.

In March 2014, Dickinson settled with the bank for $100,000.   In the settlement documents, the bank stated it would be tough to collect money from Dickinson due to her “age, lack of assets and lack of income”.