Former Baywatch star Nicole Eggert has filed for bankruptcy.
The 42-year-old actress submitted the claim for Chapter 13 bankruptcy to the courts on September 10th, 2013 – her third attempt in less than 12 months – according to RadarOnline.com.
However, both of Nicole’s previous claims were dismissed.
This time, however, Nicole has opted to file under Chapter 13 – which allows the individual to avoid liquidation and the subsequent foreclosure on their house.
Instead, they are given the opportunity to make mortgage payments on the property.
In Nicole’s case, she will be able to pay back the $60,000 debts on her home, in the form of $1,071.43 per month for 12 months to the bank, and a further $800 to her creditors.
Following the first year, Nicole will pay $1,320 per month for the next 48 months – leading to a total of $72,960 being paid off.
In the bankruptcy filings, Nicole claims to have to pay a further $2,000 in management fees per month, along with $3,000 a month child care – and has a total of $15,952.24 in expenditures per month. Furthermore, following current liabilities of $807,115, she manages to live on a relatively meagre $795.76 per month.
Of course, Nicole also had to list her assets in the filing – revealing she has assets which add up to $1,070,400.
Her assets include her $870,000 Valley Village home in California, $5,000 in furniture, a further $5,000 in clothing and a 2008 VW Passat.
In terms of her bank balances, Nicole listed her personal checking account as containing $400, her business account containing $65,000 and a SAG pension of $130,000.
Earnings-wise, Nicole said on the filing that she makes around $15,416 per month, and also receives $766 child support on a monthly basis.
In addition, she received $7,000 in residuals in 2013.
The bankruptcy case will stay open until Nicole is debt-free.
Nicole, who played Summer Quinn on Baywatch, has two daughters, Dilyn with ex-husband Justin Herwick, and Keegan, whose father she has never publicly revealed.