by Sam Hieb
At least to the City of High Point, which he represents as a Ward 2 City Council member:
The chances of the city ever recovering a dime of a decade-old debt from City Councilman Foster Douglas plummeted Monday.
U.S. Bankruptcy Judge Benjamin A. Kahn confirmed Douglas’ Chapter 13 bankruptcy protection plan, which keeps the city off the list of creditors that will be paid in the debt settlement.
Kahn gave the OK to Douglas’ proposal to pay $1,125 per month for five years to Bank of America, the Internal Revenue Service and the North Carolina Department of Revenue to settle debts associated with his house.
Douglas owes $32,216 in a federal judgment to the city, which is an “unsecured creditor” in the case, according to bankrupty court Trustee Anita Troxler.
The debt settlement is not expected to be enough to pay any of Douglas’ unsecured creditors, she said. If Douglas complies with the plan, the city’s debt will be “discharged,” she said — meaning he won’t have to pay it.
What a mess.