BANKRUPTCY FILING

BANKRUPTCY FILING
Edward A. Flask
In his bankruptcy filing, Edward A. Flask says he is a self-employed consultant earning about $3,000 a month with $3,832 worth of monthly expenses. Flask lists $2,598,941 in potential and actual liabilities and $15,801.90 in personal property assets.
LIABILITIES:
Civil lawsuit: $2,422,411.
Fine and restitution from his criminal case: $83,563
Legal fees for criminal case: $62,717
Credit card debt to MBNA of Wilmington, Del.: $16,000
Lease for copy machine: $7,250
Trumbull County Probation Department: $5,000
Trumbull County Clerk of Courts: $1,000
MVSD for recovery: $1,000
ASSETS:
Cash on hand: $0
Personal checking account: $300
Business checking account: $1.90
Clothing: $500
Jewelry: $5,000
Public retirement fund: $8,000
Desks, typewriters and chairs: $2,000
ANNUAL SALARY:
2001: $30,000 (estimated)
2000: $8,000
1999: $30,000
MONTHLY EXPENSES:
Rent: $500
Food: $300
Clothing: $150
Laundry: $100
Transportation: $200
Life insurance: $600
Health insurance: $1,200
Auto payments: $282
Operational expenses: $500
TOTAL: $3,832
Source: U.S. Bankruptcy Court, Youngstown