'Octomom' Nadya Suleman Files For Chapter 7 Bankruptcy

May 1, 2012 By:
'Octomom' Nadya Suleman Files For Chapter 7 Bankruptcy

Nadya Suleman aka "Octomom" has filed for Chapter 7 bankruptcy in the Central District of California.

The unemployed mother of 14 filed for bankruptcy on Monday but has suffered financial distress long before the 2009 birth of her octuplets, conceived via in-vitro fertilization, brought her notoriety.

Court documents obtained by Hollyscoop show the 36-year-old Suleman claims she has $50,000 in assets and $50,000 to $1 million in debt.

READ the court documents HERE!

The long list of creditors that "Octomom" owes big bucks to, include Orkin Pest Control, Verizon Wireless, DirecTV, Sylvan Learning Center, Sparkletts Bottled Water, Indy Mac Mortgage, Kaiser Permanente and the DMV.

Just how much bottled water do you have to drink to wind up nearly $1 million in debt?

Previous reports claim Suleman currently owes more than $30,000 in rent payments on her four-bedroom house in La Habra. Under a Chapter 7 bankruptcy, a court-appointed trustee will liquidate Suleman’s assets to pay off her creditors.

In her defense, Suleman tells E!, "I have had to make some very difficult decisions this year and filing Chapter 7 was one of them. But I have to do what is best for my children and I need a fresh start.

Apparently, the fresh start includes a new job in the online adult entertainment industry. TMZ reports "Octomom" will shoot a masturbation video this summer to be released (no pun intended) shortly afterward.

Although she previously posed topless in “Closer” magazine, Suleman swore she would never to do any porn - going so far as to reject a million dollar offer from Vivid Entertainment back in 2009.

“I don't think you can get farther, deeper down into the rock bottom than we are at this point,” she told HLN. “[My kids] are healthy [and] safe. They don't feel it. I do. All the weight is on my shoulders.

As for her new paycheck, we hope it’s enough to pay that water bill.