Karen Derrico, known for her appearance on the show Doubling Down With the Derricos, has recently faced financial hardships and filed for bankruptcy in 2018. As fans gradually come to terms with Karen and her husband Deon’s divorce, the question arises: how will Karen manage the financial arrangements agreed upon with Deon?
Fans of Doubling Down With the Derricos were informed that Deon would pay $1,116 per month for the support of 13 out of their 14 children. Initially, this amount may not sound substantial, considering Karen’s responsibility to cover the children’s medical insurance. It is presumed that as co-parents, Deon will contribute financially towards their upkeep when they are visiting him.
Speculation among some fans suggests that financial reasons may have played a role in Karen and Deon’s decision to divorce, and Karen’s previous bankruptcy filing might be connected to this. Recent developments shed light on two different aspects. First, it was reported that the TLC couple’s combined net worth is estimated to be $6 million, although the accuracy of this figure is uncertain. Secondly, news of Karen’s bankruptcy emerged.
In 2018, Karen Derrico filed for bankruptcy, as revealed by InTouch Weekly. At the time, she listed assets totaling $12,519 and liabilities amounting to $47,567. The situation appeared challenging as her monthly expenses exceeded her income of $2,480, with expenses listed at $2,560. Interestingly, Karen was not a stay-at-home mom during that period and was working as a teller at Bank of America. She struggled to pay off a student loan of $27,000 while possessing modest homes, a car, and various household goods. The court-appointed trustee expressed concerns about payments and documents, leading to a request for dismissal.
Subsequently, the case was transferred to Chapter 7 bankruptcy after Deon Derrico was included in the paperwork. Chapter 7 bankruptcy involves the liquidation of a debtor’s nonexempt assets and the distribution of the proceeds to creditors, according to the United States Courts website.
The bankruptcy proceedings concluded in 2019, and the TLC show premiered the following year. This development was likely a welcome relief for Karen Derrico. Of course, she likely hopes that the divorce does not lead TLC to cancel the TV show.