Chicago Sun-Times
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Antoine Walker files for bankruptcy after foreclosure suit

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Not sure which is worse for Antoine Walker. That he's being sued in a $2.3 million foreclosure lawsuit over the Tinley Park mansion he bought his mom or that he lists himself as unemployed in the subsequent bankruptcy filing.

The latest trouble in a string of bad news for the former NBA All Star shows Walker with assets of $4.28 million against liabilities of $12.74 million, according to a report in Crain's Chicago Business. He was last in the news for writing a series of bad checks on casino debt, though charges were deferred when a payment plan was agreed upon.

Walker made $110 million in his 13-year NBA career.

In the bankruptcy filing, Walker claims he has no monthly income and no job. Aside from debt on real estate, the petition includes more than $1.25 million in gambling debt to casinos in Las Vegas and Northwest Indiana. And there's his 2006 NBA championship ring, listed at $6,000 according to the filing.

Northern Trust filed the foreclosure suit in Chicago on May 13.

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No sympathy here. Sorry.

Mortgage Loan Modification is the only solution to save your home and stop foreclosure. Some 650,000 troubled borrowers have been put into trial loan modifications under the president's foreclosure rescue plan, the Treasury Department said Tuesday. That number represents only 20% of eligible homeowners. Mortgage Home Modification Program is the solution to save your house and stop foreclosure process Use this free tool to see if you qualify for loan modification

The foreclosure crisis affect everybody. In many cases bankruptcy can be helpful. As an experienced bankruptcy attorney I can attest that Chapter 13 will be helpful to Mr. Walker. I wish him the best of luck.

Uh, Doug, Walker says that he is unemployed in the petition. He filed a Chapter 7. Indeed, without income, he won't be eligible for Chapter 13.

Good luck on that practice of yours.

This makes the top 10 reasons list of why you should not hang out with Michael Jordan.

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This page contains a single entry by Craig Newman published on May 27, 2010 2:13 PM.

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