Mark Robinson personal debt filing
The gist
Former North Carolina Lt. Gov. Mark Robinson and his wife filed for Chapter 13 bankruptcy with nearly $800,000 in debt.
The filing lists under $800 in the bank and a pending defamation-related lawsuit.
How it unfolded
- 1998Mark Robinson and Yolanda Hill filed for bankruptcy, one of three filings between 1998 and 2003.
- 1998 -2002The couple failed to pay an estimated $15,800 in income taxes, which they paid back in 2003.
- 1999The couple filed for bankruptcy again; the court dismissed the case after a filing by the trustee.
Key terms
- Chapter 13 bankruptcy
- A U.S. bankruptcy procedure letting an individual with regular income propose a court-approved plan to repay debts over three to five years.
- trustee
- One of two or more people who jointly hold and manage property for the benefit of another.
- unsecured
- Debt not backed by collateral or a guarantor, so the lender relies only on the borrower's promise to repay.
Source: Wikipedia