Candidate Wright’s finances in spotlight
By Tim Merris
District 54 House candidate Jared Wright can’t stay out of the news no matter how hard he tries. It has been reported that Wright filed for Chapter 7 bankruptcy protection in U.S. Bankruptcy court in Denver.
Wright lost his home to foreclosure and had some of his vehicles repossessed as a result of incurring $74,000 of debt owed to creditors.
Wright attributed his indebtedness to the “Obama economy” and bad investments. However, a closer look at the amounts and to whom the money is owed tells a different story.
A list of debtors include $12,257 to credit card companies, $34,493 to the Grand Junction Credit Union in personal loans, $6,257 to Kay Jewelers, $966 to Verizon Wireless and $1,000 to Sunkissed Tanning Salon. At one time, Wright owed more than $40,000 in auto loans that included a 2007 Toyota Prius, a classic 1967 Chevy Camaro and a 2004 Mini Cooper.
Wright owed as much as $79,000 to 48 different creditors including 11 Grand Junction businesses. While working as a Fruita Police officer, Wright had a portion of his pay garnished to pay off a $2,000 balance owed to Union of Colorado. The debt was picked up by a collection agency that filed suit against Wright in Mesa County.
Wright owed money on services received from Ute Water Conservancy district, Excel Energy and the City of Grand Junction for water, trash, sewer and electric gas bills.
Wright told the bankruptcy court that he made an average of $3,786 per month but his monthly expenses averaged 3,880.
In a written statement, Wright stated that when he and his wife married, they wanted the All-American dream that included a nice honeymoon and nice things. He said he didn’t take into account the worsening economy and quickly found themselves like so many other couples in over their heads. He went on to say that his motivation for running for office was to help other Coloradans facing the same bleak economic picture in their own lives and to do his own small part to contribute to true economic recovery. He also said there is zero probability that he will drop out of the race.
Mesa County GOP Committee Chairwoman Ruth Elders said the party continues to support their candidate for the House seat.