Millionaire Kerik Was Once A Deadbeat
Homeland Security nominee was once bankrupt NYPD cop
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Millionaire Kerik Was Once A Deadbeat
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Millionaire Kerik Was Once A Deadbeat -
Millionaire Kerik Was Once A Deadbeat -
Millionaire Kerik Was Once A Deadbeat -
Millionaire Kerik Was Once A Deadbeat -
Millionaire Kerik Was Once A Deadbeat -
Millionaire Kerik Was Once A Deadbeat -
Millionaire Kerik Was Once A Deadbeat -
Millionaire Kerik Was Once A Deadbeat -
Millionaire Kerik Was Once A Deadbeat -
Millionaire Kerik Was Once A Deadbeat -
Millionaire Kerik Was Once A Deadbeat -
Millionaire Kerik Was Once A Deadbeat
DECEMBER 7--While a recent stock windfall has left Bernard Kerik sitting on $6 million, President Bush's nominee to head the Homeland Security department hasn't always been so flush. In fact, Kerik was once a deadbeat who declared bankruptcy when he couldn't handle his credit card bills, loan repayments, or Sears and J.C. Penney tabs. Kerik filed for Chapter 7 protection in October 1987, when he was a 32-year-old New York Police Department officer living in Greenwich Village, according to federal court records. As detailed in Kerik's bankruptcy petition, a copy of which you'll find below, he listed debts totaling about $12,000, the largest of which was a $2089.52 Visa bill. He also claimed an inability to pay a $174 Sunoco tab. According to Kerik's filing, his expenses exceeded his income by about $200 per month. Along with costs like rent ($700), food $200), and "alimony, maintenance, or support payments" ($280), Kerik typed in "Barber" on the line calling for other expenses to be listed. Those tonsorial treatments set him back $20 a month. Kerik, who reported having $15 on hand and $50 in a checking account, valued his personal property at $2365 (he appraised two .38 caliber firearms at $300). In March 1988, after court-appointed trustee Albert Togut filed a report stating that Kerik was an asset-free zone, Judge Conelius Blackshear signed an order formally releasing him "from all dischargeable debts." (12 pages)
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