Mary Kate & Ashley Olsen's Dad Files For Bankruptcy

By Mara Siegler | June 25th, 2010 at 11:03 am

Since the Olsen twins first uttered the words “You got it dude,” on Full House as Michelle Tanner, they’ve been raking in millions with movies, clothing lines, and a ton of merchandising deals. They’ve managed to be two of the very few child stars to create a brand and manage it succesfully. 

Their father David Olsen is not seeing any of their millions and has filed for bankruptcy.

David divorced Mary Kate and Ashley’s mom in 1996 to marry his secretary with whom he now has two children Taylor, 14, and Jake, 12. The family’s house is in foreclosure at $2.2 million and is scheduled to be auctioned off in the near future. To settle his debt with the bank, he’s had to file for bankruptcy.

“Unless his mega-rich daughters come to the rescure, their father and their stepmother will lose their home on July 9,” a family friend told The Enquirer.  

This isn’t the first time David has been in trouble. In 2009 he almost lost his home, but was able to borrow enough money to cover tax liens.

Whether or not the twins will come to dad’s rescue remains to be seen. There is very little known about their relationship.

Source

• Tweet
• 
• 0