If you’ve ever applied for a home, copped a loan from a bank or are just familiar with your credit, you’re very family with the term ‘debt-to-income-ratio’. According to TMZ, former NBA baller Allen Iverson is drowning in debt. What’s odd, is over his career, he reportedly made over $150 MILLION. So what’s the issue? Each month, he says he’s short $295,876.66. According to docs, Allen brings in $62,500 in monthly income, but here’s a break-down of his expenses:
- $125,749.33 goes to paying off various creditors–like his jeweler and mortgage (which will be auctioned off shortly)
- $10,000 month on clothes
- $10,000 month on grocery/house items,
- $1,000 month on dry cleaning,
- $5,000 month on entertainment and
- $5,000 month on restaurants
What’s more? Dude drives a $300K car. A Maybach to be exact. Yikes.