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Thread: Jamal Lewis files for bankruptcy
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05-27-2012, 04:21 PM #14Legendary RSR Poster
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Re: Jamal Lewis files for bankruptcy
I think chapter 11 allows him to work out a deal with who ever he owes. Small companies do it all the time when something happens that doesn't allow them to make payments on time or creditors are breathing down their necks. It gives him breathing room to satisfy creditors.
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05-27-2012, 07:54 PM #15Pro Bowl Poster
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Re: Jamal Lewis files for bankruptcy
Im actually surprised to hear this. Everything I had ever heard about Jamal off the field was he was very smart with his money and had several buisnesses that were doing well. But I guess things change
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05-27-2012, 08:58 PM #16
Re: Jamal Lewis files for bankruptcy
Huh. That explains why the one that cost me $85 a couple years ago appears to be a piece of crap.
You can look at it that way if you want, or you could observe that his career in the NFL led to (a) him being unprepared to dispose of his money responsibly and (b) him getting hit in the head a bunch of times. In which case both things have the same cause but one is not the reason for the other.
I think it is brutally unsympathetic of some of you, on the one hand, (a) to enjoy this sport played by young men who have been playing it since they were boys and are, by and large, unsophisticated, and (b) to dismiss their struggles as they grapple with real life financial and health decisions they made because of this pedestal we've put them on.Festivus
His definitions and arguments were so clear in his own mind that he was unable to understand how any reasonable person could honestly differ with him.
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Re: Jamal Lewis files for bankruptcy
Found this on Ripoff Report.. One of his employees of the trucking company spills the beans on how poorly things were run..
http://www.ripoffreport.com/trucking...ankr-ee9e0.htm
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05-27-2012, 09:23 PM #18Pro Bowl Poster
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05-27-2012, 09:24 PM #19Legendary RSR Poster
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05-27-2012, 09:44 PM #20
Re: Jamal Lewis files for bankruptcy
Festivus
His definitions and arguments were so clear in his own mind that he was unable to understand how any reasonable person could honestly differ with him.
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05-27-2012, 10:31 PM #21Regular 1st Stringer
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Re: Jamal Lewis files for bankruptcy
Ah, the reorganization of finances. No worries, anything he defaults on will be paid by the rest of us. Good stuff.
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Re: Jamal Lewis files for bankruptcy
Hartwell filed for bankruptcy too after defaulting on his $22M beach front estate.
So many are sqaundering what very few of us get. Damn shame.
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Re: Jamal Lewis files for bankruptcy
Huh? Ive seen plenty of Ch. 11 plans where all the creditors -- even the unsecured -- get paid in full. Just over a longer timeline than they originally planned. Often the only time people get screwed is when some of the secured creditors (read: banks, who already get their bailout money nobody else gets) get a bug up their ass and object to the plan, and force liquidation and screw the unsecured creditors (vendors, suppliers, etc.) out of everything. It ain't the guy filing the BK that's the dick; take it up with the assholes at the bank, who already get their money no matter what. They can afford to wait on their money, but often they don't. They force people to liquidate perfectly good businesses and prevent them from paying the ones who really need and deserve the money.
This filing is pretty typical of the current economy and says nothing whatsoever about (a) head trauma in the NFL, or (b) what kind of person or businessman Jamal is.
A sizeable percentage of those who have any decent amount of business and assets is in Chapter 11 right now, or just got finished with it recently.Last edited by Mista T; 05-28-2012 at 12:24 PM. Reason: political reference removed
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05-28-2012, 03:18 AM #24Pro Bowl Poster
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