|Jeremy and Shana Mayfield|
Mayfield did not appear at any hearings related to the case, and told the Hickory Daily Record that he could not afford to hire an attorney to defend him. Despite prevailing in Wednesday’s ruling, Bolton may have difficulty collecting on her $1 million award. Mayfield has accumulated millions of dollars in legal fees related to a recently abandoned lawsuit against NASCAR, and recently saw his Catawba County, NC home sold at public auction.
In a related story, The Sporting News reported that Shana Mayfield filed for Chapter 7 bankruptcy in U.S Bankruptcy Court Wednesday, in an effort to delay a scheduled eviction from their Catawba County home.
The Mayfields took out two mortgages totaling $3,127,500 on the home and its surrounding 455-acre property in July of 2006, but stopped making payments shortly after the former NASCAR Sprint Cup Series driver was suspended for failing a drug test. Approximately $2.3 million in principal is still owed, and foreclosure proceedings began in December of last year. Mayfield’s lender, Carolina Farm Credit, purchased the home at public auction for $1.725 million April 30, and allowed new bids to be submitted for a period of 10 days. Mayfield was required to pay the entire balance due by the end of business yesterday, or vacate the property.
In the bankruptcy filing, Shana Mayfield claimed less than $50,000 in assets, against liabilities of between $1 million and $10 million. The filing will allow the Mayfields to postpone foreclosure and remain in the home, at least temporarily.
Photo Credit: AP