A Gloucester County Board of Supervisors member is in the midst of bankruptcy proceedings, according to documents filed with the United States Bankruptcy Court, Eastern District of Virginia.
Ware District Supervisor Gregory Woodard is making $900 monthly payments to his creditors for a period of 36 months, and earlier this month, had the second mortgage on his home erased, as part of the bankruptcy, which was initially filed in April 2009.
Woodard, along with his wife Eunice, filed Chapter 13 bankruptcy last year with a claim totaling $396,327, against total assets of $304,361, according to court records.
According to the website of the Administrative Office of the United States Courts (www.uscourts.gov), Chapter 13 enables individuals with regular income to develop a plan to repay all or part of their debts. Woodard and his wife filed Chapter 7 bankruptcy in 1995, court records indicate.
Woodard issued the following statement Thursday afternoon regarding his financial situation:
"It is public record that I have personally filed for Chapter 13. Like many other citizens that have experienced hardship, I did not make this decision lightly. The recession has impacted me financially, just like it has other citizens. However, the impact has not just been financial. It has affected me personally, emotionally, spiritually and physically. Nevertheless, God has strengthened me in this personal matter and it has not hindered me in doing my job on the Board of Supervisors. I am committed to providing the effective representation that the citizens of Gloucester County expect and deserve."