Jamal Lewis files for bankruptcy

[HoustonRaven]

What makes me less than sympathetic towards Jamal is the type of bankruptcy.

He's saying he needs to reorganized the payments of his debt. What he is not saying or doing is selling off those assets so he doesn't have the debt to begin with.

He's basically saying "Hey, I overspent, but I don't want to give up my toys so please let me restructure my debt so I can keep my stuff".

[The Fanatic]

What makes me less than sympathetic towards Jamal is the type of bankruptcy.

He's saying he needs to reorganized the payments of his debt. What he is not saying or doing is selling off those assets so he doesn't have the debt to begin with.

He's basically saying "Hey, I overspent, but I don't want to give up my toys so please let me restructure my debt so I can keep my stuff".

Exactly!!
Not that this type of stuff doesn't happen to the everyday joe blow that has to file and do so in a manner to keep his family in his house, etc., but...

5 houses, multiple cars and god knows what else.

Sorry, he ain't hurting like the guy standing out on the street corner holding a sign begging for money or assistance so he can live to see tommorrows sunrise.

[AirFlacco]

Bert Reynolds the actor filed for bankruptcy after squandering everything too. He had a chopter, plane, beach front estate. He
got to keep the estate.

Jerry Lewis also filed back in the 70s. I remember his wife testifying that he left a brief case next to the chair he sat
on in the airport. It had $10,000 cash in it.

He never wore a pair of socks more than once or under ware
and he never cleaned a suit. He gave them away and got
new ones. He had contracts with sock and under ware company. They shipped a big supply in at the beginning of
the year.

This happens all the time with celebrities. Johnny U filed for
bankruptcy and so did Brooks Robinson and when Mike
Flannagan killed himself recently his wife said he had financial difficulties.

Here's a list of famous athletes that filed bankruptcy including
Johnny U, Mike Tyson, and Holyfield. Borg the tennis player
was left off.

http://msn.foxsports.com/nfl/lists/A...-title=&photo=

[jonboy79]

What makes me less than sympathetic towards Jamal is the type of bankruptcy.

He's saying he needs to reorganized the payments of his debt. What he is not saying or doing is selling off those assets so he doesn't have the debt to begin with.

He's basically saying "Hey, I overspent, but I don't want to give up my toys so please let me restructure my debt so I can keep my stuff".

Has there ever been a worse time to liquidate assets?

I'm sure the banks are happier spreading out payments then owning houses in this financial market...