Posted on Wednesday, August 1st, 2012 at 9:34 pm
Yesterday, the Las Vegas Sun reported that former Oakland Athletics baseball payer Jose Canseco filed for Chapter 7 bankruptcy protection in Nevada. While with the Athletics, Canseco was named Rookie of the Year and American League MVP.
The 48-year-old has nearly $1.7 million in liabilities and less than $21,000 in assets, according to his bankruptcy filing. More than $500,000 of his debt back taxes owed to the IRS. Canseco will liquidate his assets through Chapter 7 bankruptcy to help pay off his debt.
Canseco had a 16-year career with a total of eight major league teams, though he later admitted to using performance-enhancing drugs.
If you are unsure if you qualify for Chapter 7 bankruptcy, consider answering the Chapter 7 means test. For trusted, experienced advice on your bankruptcy needs, contact the attorneys at the Law Office of Russell Van Beustring, P.C., by calling 713-973-6650.