Mo Money Mo Problems: Broke Azz Struggle-Baller Allen Iverson Blows Through $350K A Month Into Bankruptcy But Keeps Maybach

screen-shot-2012-03-05-at-9-52-05-am-e1330959175178

Shoulda never gave you ninjas money…

Allen Iverson Is Broke

Former NBA star Allen Iverson is digging himself into a giant financial hole, with monthly bills that largely outweigh his monthly income but the good news is he’s still got his Maybach. Ballin!

Via TMZ reports:

Allen recently filed docs in GA court as part of his nasty divorce battle with his ex Tawanna Iverson which outline his dire financial situation.

According to docs, Allen brings in $62,500 in monthly income, but his expenses are FAR, FAR, greater … costing him a cool $358,376.66 PER MONTH!!!!

So where does all his money go?

A large chunk — $125,749.33 to be exact — is spent paying off various creditors (like his jeweler) … and some goes to his mortgages (but not for long, since his ATL crib is about to be auctioned off).

But Allen says he blows a lot on OTHER expenses too … like $10,000/month on clothes, $10,000/month on grocery/house items, $1,000/month on dry cleaning, $5,000/month on entertainment, $5,000/month on restaurants … and so on.

All in all, Iverson — who reportedly made over $150 MILLION during his NBA career — says he ends up in the hole each month to tune of $295,876.66. Ouch.

Despite the mounting debt though, he’s still got his Maybach (which is fully paid off) … and reportedly worth between $340k – $400k.

How does one spend $1,000 monthly in groceries but also reportedly spends $5,000 a month eating outside in restaurants???? WTF?

How does he manage to come up with 10K a month to buy clothes? What happens to last month’s clothes? And with double his income just in essentials, why is he spending thousands on entertainment? How many times can you watch Madea’s Witness Protection in a month, really?

More from MommyNoire

More from StyleBlazer & MadameNoire

blog comments powered by Disqus
No thanks