66 East Main Street, 3rd Floor Little Falls, NJ 07424

Janice Dickinson on the Runway, Modeling for Her Bankruptcy Judge

Share on facebook
Facebook
Share on linkedin
LinkedIn

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”.