Best-Selling Author Files Chapter 7 Bankruptcy

Written by CFB Blogger. Posted in Blog

The best-selling author, Zane, whose real name is Kristina Laferne Roberts, has recently filed Chapter 7 bankruptcy in U.S. Bankruptcy Court in Maryland. She lists her total assets at over $1.4 million, which includes her $950,000 primary residence and a $530,000 investment property. Her liabilities are listed at over $3.4 million, which include $337,151.85 in back taxes owed to the state of Maryland, over $540,000 owed to the IRS and over $1.4 million owed to various creditors. The U.S. Treasury Department placed a tax lien on her home in 2010. According to an article by DeNeen L. Brown, reporting for The Washington Post, Zane is the executive producer of a new movie, “Addicted”, based on one of her, shall we say, ‘steamy’ books. The movie, starring Sharon Leal and Boris Kodje, is due out as we publish this article. Zane, who has sold millions of erotic books, has been compared to “Fifty Shades of Grey” author E.L. James. Earlier this year, the Maryland Comptroller dubbed Roberts Maryland’s top individual “tax cheat”; in fact, the state has been trying to collect back taxes from her for more than 10 years. Roberts, founder of Strebor Books, an imprint of Atria Books/Simon & Schuster, and creator and producer of two Cinemax television series, “Zane’s Sex Chronicles” and “Zane’s The Jump Off”, estimated her monthly income at $4,700. She reported her checking account balance at $400, her savings at $51 and a money market account balance of $8, The Post article reports. The author states that her employer is Simon & Schuster and that her income from the publishing house was $91,000 last year. In 2012, she reported an income of $362,000 from the publishing company and that she has earned $28,374 to date this year. If you have been thinking about filing Chapter 7 or Chapter 13 personal bankruptcy due to failed real estate or other investments, contact the attorneys at Client First Bankruptcy. We are experienced and knowledgeable in the field of all aspects of personal bankruptcy. Hiring a Client First Bankruptcy attorney to counsel you through the process and provide representation may be the key to your financial freedom. We have helped thousands of consumers like you discharge their debts. For your free initial phone consultation, please call us toll-free at 800-383-6004 today or log onto www.clientfirstbankruptcy.com for more information. Our well-informed and compassionate attorneys answer their phones Monday thru Friday from 8:30 a.m. – 6:00 p.m. Central Time.