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‘American Chopper’ Star Paul Teutul Sr. Files for Bankruptcy
The Blast ^
| February 27, 2018
| Gary Trock , Ryan Naumann
Posted on 05/30/2018 8:32:46 PM PDT by yesthatjallen
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For those who may not know, Mr. Teutul SR. ran a business in NY called 'Orange County Chopper'. He had a reality cable show called, 'American Chopper' which focused on the business and his family.
I stumbled across this article. It's a couple months old.
I find this financial fall stunning.
Who was his financial advisor? His mentally challenged cousin on his mothers' side?
To: yesthatjallen
2
posted on
05/30/2018 8:35:19 PM PDT
by
tennmountainman
("Prophet Mountainman" Predicter Of All Things RINO...for a small fee.)
To: yesthatjallen
He also lists four dogs at a dollar a piece
Watched his show and was a fan sounds like a real yahole if he lists his dogs and then when he does only a buck a piece
3
posted on
05/30/2018 8:37:46 PM PDT
by
al baby
(Hi Mom Hi Dad)
To: yesthatjallen
Is that the guy who squabbled and fought with the help and his kid every 2 minutes..They wrote it into part of the show. Way over done. I guess if they depicted people doing their jobs normally at work, without BS drama, nobody would watch.☺
4
posted on
05/30/2018 8:41:09 PM PDT
by
dragnet2
(Diversion and evasion are tools of deceit)
To: yesthatjallen
Too often, when you suddenly come into a lot of money quickly, you adapt to a new lifestyle and spend at a new level and act as if it will last forever.
If he had kept to a more modest living and put everything he was making from his show into some smart investments, he probably would be fine today.
People who come from more modest backgrounds tend to do that when they make too much money at once.
5
posted on
05/30/2018 8:42:14 PM PDT
by
Jonty30
(What Islam and secularism have in common is that they are both death by cults.)
To: yesthatjallen
According to documents obtained by The Blast, 68-year-old Tuetul filed for Chapter 13 in New York claiming he owns $1,801,729 in assets, and owes $1,070,893.44. So, he has over $700,000 after he pays of all debts?
This man is doing much better than most here on Free Republic!
6
posted on
05/30/2018 8:43:21 PM PDT
by
ConservativeMind
(Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
To: al baby
I think he probably loves his dogs and wants to ensure that somebody will buy them. If he were to list them at some higher value, he would risk not getting them into a new home.
7
posted on
05/30/2018 8:43:24 PM PDT
by
Jonty30
(What Islam and secularism have in common is that they are both death by cults.)
To: yesthatjallen
The show just returned on Monday.
8
posted on
05/30/2018 8:43:42 PM PDT
by
Rastus
To: tennmountainman
Sometimes it happens. Chapter 13 means he’s paying back some of it. He’s not getting away scott free after all. People are so quick to judge ya know...
To: Airforce Sister
The man is wealthy. He is just trying to not have to pay most of his bills, so that he keeps well over $1.3 million instead of $720,000.
Hes a louse.
10
posted on
05/30/2018 8:46:54 PM PDT
by
ConservativeMind
(Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
To: yesthatjallen
“Who was his financial advisor?”
Maybe he was churning his account.
11
posted on
05/30/2018 8:49:26 PM PDT
by
Ken H
(Best election ever!)
To: Rastus
I no longer have cable.
I only watched the show passively during the last two seasons.
I had no vested interest in the show.
My interest here is how he lost control of his finances.
To: yesthatjallen
He only makes $100k/year including the series with his name on it and the residuals?!
Ehhh... I don’t think so...
On the flip side though, it sounds like he’s cash poor and can’t get the value transferred which is why hes declaring
13
posted on
05/30/2018 8:56:13 PM PDT
by
Skywise
To: Skywise
He only gets residuals on the episodes as they air. If the show isn’t airing as much, his residuals would be down.
14
posted on
05/30/2018 8:58:17 PM PDT
by
Jonty30
(What Islam and secularism have in common is that they are both death by cults.)
To: yesthatjallen
I thought American Chopper was starting up again. He’s not getting good money for that?
15
posted on
05/30/2018 8:58:43 PM PDT
by
Kazan
To: yesthatjallen
If you had watched the show, you wouldn't have been all that surprised that he couldn't manage his money very well.
16
posted on
05/30/2018 9:00:13 PM PDT
by
DiogenesLamp
("of parents owing allegiance to no other sovereignty.")
How can he be bankrupt? Is this some gimmick because he's in a feud with his Son & doesn't want to split the assets with him?
17
posted on
05/30/2018 9:01:46 PM PDT
by
KavMan
To: al baby
He’s listed them at a buck each so they’re not considered “valuable property” and liable to be taken as payment against debt.
He loves those dogs dearly.
18
posted on
05/30/2018 9:07:59 PM PDT
by
Salamander
(I ride all night and I travel in fear, that in this darkness, I will disappear...)
To: Jonty30
There is a law that states: Spending increases with income.
19
posted on
05/30/2018 9:08:17 PM PDT
by
PhiloBedo
(You gotta roll with the punches, and get with what's real.)
To: yesthatjallen
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