Bankruptcy

Mets Star Lenny Dykstra Seeks Bankruptcy Protection

By writer

No one seems to be safe from our troubled economy these days. Even seemingly wealthy celebrities are falling deep into debt and are unable to deal with their financial burden without help. A prime example of this is former center fielder for the New York Mets Lenny Dykstra filing for Chapter 11 bankruptcy this month.

We know things have gotten bad when our hero?s start feeling the effects of the recession too. According to the U.S. Bankruptcy courts in California, the left-handed player has an estimated $30 million worth of liabilities. This is very bad news for him, since he currently only has less than a hundred thousand in assets.

But how could this happen to a former Baseball super star? Like many other Americans, Dykstra started his own businesses after he retired from playing. These businesses included the production of a professional athletes magazine called ?Player?s Club? as well as a Jet charter company. Unfortunately, these businesses have fallen on hard times. Due to several devastating lawsuits and other financial difficulties, Dykstra?s fortune appears to be waning. Filing for bankruptcy turned out to be his only salvation from the massive debt he?d accumulated.

It?s troubling to witness someone with previously so much money lose everything. It makes us wonder what kind of chance the rest of us have when it comes to dealing with our financial difficulties. We?d like to think we can make it on our own, but in these uncertain economic times, outside assistance may be the best solution.

If your finances are spinning out of control, there is help available. Contact a Legal Helpers attorney who focuses in bankruptcy right now and get a fresh financial start you deserve right now.

Full post as published by Consumer Bankruptcy Blog from Legal Helpers on July 22, 2009 (boomark / email).