September 10, 2012
By: John Clark
Jared Wright, a candidate for the Colorado House of Representatives, is filing for Chapter 7 bankruptcy in an effort to discharge more than $70,000 in debt, according to a report from the Grand Junction Sentinel.
Sources say that Wright, who filed in U.S. Bankruptcy Court in Denver, owes more than $12,257 in credit card debt, $35,000 to a local credit union for a personal loan, $6,000 to Kay Jewelers, and, oddly, $1,000 to a tanning salon.
When asked by reporters why he’d accrued so much debt, the Republican candidate blamed his troubles on bad investments and what he termed "the Obama economy."
The bankruptcy, unfortunately, was not filed in time to prevent the foreclosure of his Colorado home, but Wright believes that Chapter 7 will help him discharge a healthy portion of his outstanding debts.
Sources report that Wright has been working to pare down his debts for years. At one point, Wright reportedly owed more than $40,000 in car loans on a 2007 Toyota Prius, a 2004 Mini Cooper, and a 1967 Chevy Camaro.
And when he was working as a police officer in the town of Fruita, Wright apparently had a portion of his paycheck garnished to help repay a $2,000 debt that he owed to a credit union.
In addition, Wright has been the subject of a recent collection lawsuit in Mesa County, and owes nearly $80,000 to 48 different creditors, including 11 businesses in the city of Grand Junction, according to sources.
But despite all his debt woes and his pending bankruptcy, the chairwoman for the Mesa County GOP Committee, Ruth Elders, said she and her party will continue to support Wright in his bid for the state House.
This vote of confidence parallels similar activities in other states, where more and more candidates for political officer are revealing their histories with bankruptcy filings and debt.
This year, more than one million Americans are expected to file for Chapter 7 bankruptcy, including white collar professionals, successful business leaders, and popular politicians.
PAID ATTORNEY ADVERTISEMENT: THIS WEB SITE IS A GROUP ADVERTISEMENT AND THE PARTICIPATING ATTORNEYS ARE INCLUDED BECAUSE THEY PAY AN ADVERTISING FEE. It is not a lawyer referral service or prepaid legal services plan. Total Bankruptcy is not a law firm. Your request for contact will be forwarded to the local lawyer who has paid to advertise in the ZIP code you provide. Total Bankruptcy does not endorse or recommend any lawyer or law firm who participates in the network nor does it analyze a person's legal situation when determining which participating lawyers receive a person's inquiry. It does not make any representation and has not made any judgment as to the qualifications, expertise or credentials of any participating lawyer. No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers. The information contained herein is not legal advice. Any information you submit to Total Bankruptcy does not create an attorney-client relationship and may not be protected by attorney-client privilege. Do not use the form to submit confidential, time-sensitive, or privileged information. All photos are of models and do not depict clients. All case evaluations are performed by participating attorneys. An attorney responsible for the content of this Site is Kevin W. Chern, Esq., licensed in Illinois with offices at 25 East Washington, Suite 400, Chicago, Illinois 60602. To see the attorney in your area who is responsible for this advertisement, please click here, or call 866-200-8052.
FLORIDA ONLY: Total Bankruptcy is considered a lawyer referral service in the state of Florida under the Florida Rules of Professional Conduct. By all other standards, Total Bankruptcy is a group advertisement and not a lawyer referral service.
If you live in Mississippi, Missouri, New York or Wyoming, please click here for additional information.
By an Act of Congress and the President of the United States, we are a federal Debt Relief Agency. Attorneys and/or law firms promoted through this Web site are also federally designated Debt Relief Agencies. They help people file for relief under the U.S. Bankruptcy Code. Disclosures Required Under the U.S. Bankruptcy Code.