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Debt does in Kansas lawmaker

Mar 12, 2011 Kyle Duncan

A Kansas lawmaker is citing revolving debt from his personal interest as the main cause for his bankruptcy, the Kansas City Star reports. Ty Masterson, a member of the state's Ways and Means Committee, was forced to file for bankruptcy after revealing he possesses more than $800,000 in debt. According to the Star, Masterson has debt in real estate and commercial ventures, including the closing of his construction company. During his campaign in 2008, Masterson acknowledged he was $150,000 in debt, but Sunday's revelation showed his debt is far more significant. "I certainly hope Senator Masterson is a better steward of the people's money than he is his own," Ed Nazar, a Wichita bankruptcy lawyer, told the paper. "It was solely due to the two banks' fairly recent decision to no longer work with me that I had to file to protect the others I am working with," said Masterson, who claims he has been working for four years to overturn his debt. The Star reports that Masterson's seat in the Kansas legislature may also be at risk. His bankruptcy and position as the vice chairman of the Financial Institutions and Insurance committee have reportedly diminished his public support.