Mayfield's wife filed the Chapter 7 bankruptcy petition Wednesday in U.S Bankruptcy Court in North Carolina. She lists assets (not including any exempt property) of under $50,000 and liabilities of between $1 million and $10 million. The Mayfields' property of more than 400 acres in Catawba County was auctioned off for $1.725 million last week to Carolina Farm Credit, which held the mortgage. Because it came within 10 days of the auction and in the time permitted for any additional bids or for Mayfield to pay off the mortgage balance, the bankruptcy filing would put on hold the closing of the sale and allow the Mayfields to at least temporarily remain in their home.
Shana Mayfield said in an email Thursday that the filing was "a natural step in the process of trying to rebuild" and allows her and her husband to delay the foreclosure. Sporting News