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    'The Bachelor' Aaron Buerge Declares Bankruptcy

    By Tina Molly Lang | Yahoo! Contributor Network – Mon, Feb 21, 2011
    This story comes from the Yahoo! Contributor Network, where individuals publish their unique perspectives on some of the world’s most popular websites.
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    Former Bachelor Aaron Buerge has declared bankruptcy.

    Aaron is a banker and restaurant owner. He blames his bankruptcy on the 2008 collapse of the bank that held his personal loan. Buerge claims that the new holder of his loan collapsed more quickly than he had planned.

    Aaron Buerge was "The Bachelor" in season 2. He had proposed to Helene Eksterowicz only to break off the engagement shortly after the finale. In 2009, he married Angye McIntosh. The now have an 18-month-old daughter.

    Despite the bankruptcy, Buerge told People Magazine that he's not broke. "I'm not in financial distress - nothing like that. Otherwise, I wouldn't be paying everybody. We've been making payments ... every month, but they've just been pushing to come after some private assets that I might have."

    According to court records, the former Bachelor has $2.3 million in assets against liabilities of $9.3 million. The diamond wedding ring that Buerge had given his wife is listed as one of his assets. Angye is listed as a co-debtor in the bankruptcy filing.

    Aaron joins a list of several reality stars who have filed for bankruptcy. Last year, it was discovered that Teresa Giudice of "The Real Housewives of New Jersey" had filed for Chapter 7 bankruptcy. The economy had caused her husband's real estate ventures to fail.

    Giudice told People Magazine that she and her husband saw bankruptcy as a chance for a fresh start. She also claims to have learned from the experience. "When fall, the way to success is to get up and learn from our mistakes. We are in that process."

    In November 2010, "Real Housewives of New York City" star Sonja Morgan filed for Chapter 11 bankruptcy in Manhattan. According to Wall Street Journal, she blamed John Travolta for her financial woes. She had planned on making a movie with Hannibal Pictures, Inc., starring Travolta, but she claims that he made unrealistic demands on her production company.

    In her bankruptcy petition, Morgan had listed $13.5 million in assets and $19.8 million in debt.

    Even high-profile celebrities are not immune to struggles with bankruptcy. In October 2010, Toni Braxton filed for Chapter 7 bankruptcy in California. This was not her first bankruptcy. She had a previous bankruptcy from 1998 (as reported by TMZ).

    Given the number of reality stars and high-profile figures who have filed for bankruptcy, former Bachelor Aaron Buerge can at least take solace in knowing that he's not alone.

     

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