Taylor McKinney's parents reportedly filed for bankruptcy years ago. According to a new report, Larry and Evelynn McKinney, the soon-to-be-in-laws of Teen Mom star Maci Bookout, experienced serious money troubles in 2005.
On March 26, Radar Online reported Taylor McKinney's parents filed for chapter 7 bankruptcy on September 21, 2005 with just under $40 in their checking account. The couple, who reside in Fort Worth, Texas, reportedly owed nearly $200,000 to creditors, including Wells Fargo Home Mortgage, Chase Bank, and Capital One.
In court documents, Larry, a self-employed air conditioner installer, and Evelynn, a teacher, listed their joint monthly income at $12,450 while their total expenses amounted to $16,417.80. At the time of their filing, the couple's assets included $350 in clothing, a $22,400 Ford truck, and two dogs worth an estimated $15.
On January 11, 2006, Taylor McKinney's parents were granted a discharge by the U.S. Bankruptcy court.
Taylor McKinney made his MTV debut on Monday in Teen Mom OG, on which he stars alongside Bookout. Although the couple have been dating for a number of years, Monday's episode of Teen Mom OG was the first time he was seen by fans.
During filming, as fans will soon see, Taylor McKinney and Bookout announced to producers that they were expecting their first child together, the second for Bookout, who is also mommy to 6-year-old Bentley.
While this is the first time fans are hearing of Taylor McKinney's family's financial troubles, this isn't the first time the couple has dealt with money struggles. As Radar Online reported, Bookout owed over $78,000 to the IRS as of June of last year.
"She's in denial. She's been telling people that she's working on paying it back, but very little progress has been made."
According to Radar Online's source, Bookout had been blowing through the money she's made with MTV on trips back and forth to Dallas, where Taylor McKinney was living at the time.
"Luckily, Taylor is planning to move to Tennessee to live with Maci very soon, which will be good because it will take some of the financial load off of her. She needs to find a way to pay back this money. She's gotten herself into a lot of trouble."
One month after the report, Taylor McKinney relocated to Tennessee to be closer to Bookout. As the Inquisitr reported, McKinney's move has been a hot topic on Teen Mom OG.
For more Taylor McKinney, tune into Teen Mom OG on Mondays at 10 p.m. on MTV.
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