Cochran, a pharmacist from Daniels, filed for Chapter 7 bankruptcy, listing assets of $397,000 with liabilities of $1.4 million.
Chapter 7 allows for the sale of a debtor’s property and the distribution of the proceeds to creditors, according to uscourts.org.
Cochran’s petition for bankruptcy states that her debts are “consumer debts,” meaning they were incurred for personal, family or household purposes.
Cochran listed $89,000 in wages from 2017 and a self-employed salary of $200,000 in 2018. She listed her current monthly income as $502 in food stamps.
Although her employment status on the filing was listed as “employed,” no information was listed about her current occupation, employer’s name or employer’s address. Her income was listed as $0.
Cochran’s assets were recorded in the filing at $397,005, including a single family home located 433 4H Lake Rd. in Daniels, valued at $302,600; a 2016 Mercedes-Benz GLE 350 D 4Matic, valued at $37,500; a 2014 GMC 3500 HD Denali, valued at $32,000; and two investment properties in Daniels, valued at a combined $18,900.
A WVNS video report last Saturday showed West Virginia State Police Troopers at the Daniels property seizing two dirt bikes, a utility task vehicle (UTV) and an unidentified sports car — none of which were listed as assets on Cochran’s bankruptcy filing. Filings can be amended.
Collections suits have been filed in Greenbrier County and Raleigh County for the Denali and the Mercedes.
Cochran listed $500 in an American Electric Power “other financial account,” $13.57 at a First Community Bank checking account, and $8 in a Bank of Mount Hope checking account. She listed $58 in “cash on hand.”
Among the 29 creditors listed in the filing, Cochran estimated her liabilities at $1.4 million, including $445,000 to LCF Group (a financing firm), $250,000 to Premier Bankcard, nearly $134,000 in student loans, $81,621 to CAMC HFS (a health care collection service), $17,515 to Duke Health, $15,590 to Sunset Memorial Park, $13,533 to Citi Cards, $8,329 to Raleigh General Hospital, nearly $5,000 in six different claims to the Sheriff of Raleigh County, and a variety of other amounts less than $10,000.