Tax Activist Tim Eyman Defaults on Payments, State to Sell His Assets
Anti-tax activist Tim Eyman will now have many of his assets sold by a court-appointed trustee after defaulting on his monthly bankruptcy payments.
According to the Seattle Times, Eyman is required to make monthly payments of $10,000 to pay off fines and fees associated with his conviction earlier this year for "numerous and blatant violations" of campaign finance laws. Eyman initially owed almost $5.4 million to the state and has paid a little more than $500,000 before defaulting on the last four payments.
He filed for bankruptcy three years ago, blaming Washington State Attorney General Bob Ferguson's campaign finance lawsuit. Eyman says he is now out of money.
The Attorney General's Office is seeking to use Eyman's house, which is currently occupied by his estranged wife and kids, to cover part of the debt.
Now that Eyman has defaulted, all of his debt is due in full and will accrue interest at 12% annually.