Huffpost Money

Allen Iverson Heavily In Debt, Court Documents Reveal Where His Money Goes

Posted: Updated:
ALLEN IVERSON DEBT
Allen Iverson poses at the Wells Fargo Center on May 23, 2012 in Philadelphia, Pennsylvania. The former NBA athlete is deep in debt, court documents show. (Photo by Jeff Fusco/Getty Images for Reebok) | Getty Images
Print

He has a vertical leap of more than 40 inches, but Allen Iverson is drowning in debt.

While the former NBA star remains locked in a bitter divorce with his ex-wife Tawanna, court documents reveal his bank balance statement reads something like this: $62,500 per month coming in, $360,000 per month going right back out.

According to TMZ, Iverson pays $125,749.33 to various creditors each month. Then he drops around $1,000 per month on dry cleaning (which oddly makes sense, given that he also spends $10,000 per month buying clothes). Another $10,000 per month goes to groceries and household items, and $10,000 per month to restaurants.

On top of the discretionary expenses, Iverson has several home mortgages, though his mansion in Atlanta is currently in foreclosure.

Despite all these debts, Iverson still has assets: he owns a Maybach worth $400,000, according to Philly.com.

Iverson reportedly earned more than $150 million dollars in his career with the NBA.

Around the Web

Ex-NBA Baller Allen Iverson's Debt to Income Ratio is INSANE ...

Allen Iverson Has Bank Account Seized Over Jewelry Debt ...

Allen Iverson Slapped With Huge Unpaid Bling Bill | Breaking News ...

Allen Iverson Is Broke: What His Sinking Fortunes Can Teach Us ...

Allen Iverson -- Buried in Bills ... But Still Drives a Maybach | TMZ.com

Allen Iverson Says He is In Huge Debt During Divorce Proceedings ...

Allen Iverson is Drowning in Debt