Tuesday, May 29, 2012

Former NFL Player Jamal Lewis Files for Bankruptcy

Those statistics about former NFL players going broke years after retirement come in to play once again. The latest statistic is retired? NFL star Jamal Lewis ? who helped the Baltimore Ravens win the Super Bowl in 2001 ? has filed for bankruptcy, claiming he?s in too deep and can?t pay his eight-figure debt.

Jamal filed the Chapter 11 papers in Atlanta ? according to the docs, he?s got $14,455,854 in assets but he?s racked up a whopping $10,566,764.18 in debts.

Among his creditors ? Bank Of America has a lien for $947,876, Benz has one for 113k, Chrysler for 15k ? and the list goes on.

As for his assets ? Jamal?s got five homes, a bunch of expensive cars, a $500,000 401(k), and 50% ownership in Fort Rapids Indoor Waterpark in Columbus, OH (worth about $6 mil).

According to the docs, Jamal is self-employed and earns approximately $35,000 a month.

By filing Chapter 11 Jamal can keep most of what he?s got, while negotiating reduced and extended payments to creditors according to TMZ.

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