Color me surprised (or not given that this is reality TV) but Abby Lee Miller filed for bankruptcy in December 2010.
Luckily for Abby her Dance Moms revenue saved her – she sure owes Kelly and Christi now. Back when Abby filed she alleged assets of $325k including her dance studio, but was underwater for more than $400k.
According to TMZ, most of Abby's debt stemmed from mortgages and taxes. She had a $245k mortgage that went into default and an additional $106k debt attached to her dance studio.
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Her money problems started when she fell behind in real estate taxes and her property almost found its way into foreclosure. So why did Abby fall behind? She claims customer interest in her dance studio was sagging. Could it be her abrasive teaching method scaring folks away? No…
Luckily for Abby the gods of reality TV saved her because shortly after she filed her show got picked up and with the additional revenue she was able to dig herself out of debt and avoid going through with the bankruptcy.
Abby's bankruptcy was formally discharged on New Year's Eve and her attorney reports that all of her creditors were paid in full.
Well this is a shocking example of a reality TV financial story that didn't end in disaster – or indictment!
[Photo Credit: FayesVision/WENN.com]
TELL US – ARE YOU SURPRISED ABBY HAD TO FILE FOR BANKRUPTCY?
