DOUBLING Down with the Derricos’ Deon and Karen Derrico have filed for bankruptcy five times while growing their family to 14 children.
The Sun can exclusively reveal Deon, 50, filed for individual Chapter 13 bankruptcy on October 3, 2011.
The Doubling Down with the Derricos star listed his debt in between $500,001 to $1,000,000.
Deon did not provide a summary of schedules, which lists creditors, income, expenses and more.
Just days later on October 17, 2011, an attorney for Deon filed to dismiss the bankruptcy.
A judge agreed to the dismissal the same day.
On January 30, 2015, Deon filed again for individual Chapter 13 bankruptcy, this time listing the amount of debt as $100,000 to $500,000.
The court dismissed the case on March 27, 2015 because Deon failed to file the summary of schedules and a statement of financial affairs.
Then on April 11, 2015, he filed for individual Chapter 13 bankruptcy once again.
Deon listed his assets at $314, 619 and liabilities, which is money owed, at $600,009.53
His debt included $23,400 in credit card bills, $78,222.53 in student loans, $108,174 in property taxes, $16,946 in mortgage on two homes and more.
Deon was self-employed at Derrico Holdings Corporation and listed his monthly income as zero, but he received $2,700 a month in interest and dividend.
His wife Karen’s monthly income was $2,400 as an admin clerk making their total monthly income $4,100.
With nine children at the time of the filing, their monthly expenses were $3,900.
Deon requested the case be dismissed, as he said in court papers he “does not want my bankruptcy to continue” on February 11, 2016.
Then on March 31, 2016, his wife Karen filed for Chapter 13 bankruptcy in just her name, owing a whopping $1,009,691.33 to creditors.
Her debts included student loans in the amount of $16,000, $30,398 to a collection agency and more.
Karen, 41, worked as a teller for Bank of America at the time with a monthly income of $3,131.80.
With nine children, the monthly expenses were $16,412.50.
The case was dismissed by the trustee because of Karen’s alleged failure to comply with notice requirements, failure to file her plan in a timely manner and more on August 8, 2016.
Then on January 24, 2018, Karen filed for Chapter 13 bankruptcy again, this time listing her debt at $47,567.
The amount she owed to creditors included $27,588 in student loans, $6,628 in medical bills and more.
She listed her monthly income as a bank teller at $3,258 for the same job.
Her expenses were significantly low from the last time she filed at $3,010 a month.
The case was discharged on February 7, 2019.
A rep for the Derricos did not immediately respond to The Sun’s request for comment.
DEON’S LEGAL TROUBLES
The bankruptcies also come amid Deon’s past legal troubles.
The Sun previously reported Deon was charged with 13 counts, including theft, false representation concerning title, multiple transactions involving fraud or deceit, and more crimes on June 24, 2014.
For the theft counts, Deon and a co-defendant were accused of “participating in a fraudulent scheme, to either directly or indirectly gain control of real property… by filing two fraudulent and fictitious quitclaim deeds with the Clark County Recorder’s Office, transferring the [victim’s] property into the name of Derrico and depriving the [victim] of their property.”
The property was valued at over $3,500.
As for the false representation concerning title counts, the parties were accused of “executing or causing a false or forged quitclaim deed to be recorded in the Clark County Recorder’s Office.”
Deon and the co-defendant also allegedly “notarized the signature of [the victim] on a quitclaim deed to the property belonging to [the victim] without being in the presence of [the victim] and without providing a credible witness or necessary evidence of identification.”
Deon pleaded not guilty at his arraignment.
The case went to trial in 2018, and an attorney for the State of Nevada requested Deon’s children not be mentioned to the jury because it “might distract the jury from the facts of the case.”
Deon was found not guilty, except for one count of false representation concerning title and one count of notarization of signature of person not in presence of notary public.
The jury was “deadlocked” and the court ordered a “mistrial.”
Deon said to a news outlet following the verdict: “It was a feeling out of this world. I feel vindicated, but still wronged; feel wronged for the right reasons.”
The TLC series premiered in 2020 and just wrapped up season two.
The show features Deon, Karen and 14 of their children.
Karen is also mom to adult son Derron, who Deon adopted.
Their son Carter, who was a triplet, died shortly after his May 2017 birth.
Most recently, Karen shared with fans on the August 4 episode of the series that she suffered a miscarriage in late 2020.
Karen and Deon told People in an exclusive statement. “Even though we aren’t strangers to miscarriages, it’s still a tough heartbreak to endure! Our hearts are broken and pieces of it go out to others that have endured this pain.”
The couple added: “However, we must continue to thank God for our children and many other blessings that we have, and in addition we stay prayed up!”
Karen had previously told viewers on the show that she would be going to the doctors to find the “answers” about her pregnancy.
She previously said: “It seems like this pregnancy, it’s just been a real stressor for me.
“One minute I am fine, the next they don’t see a heartbeat. The next it’s like, ‘It’s too early.’”
This was Karen’s third miscarriage.
View more information: https://www.the-sun.com/entertainment/3504980/doubling-down-with-the-derricos-deon-karen-file-bankruptcy/