After a tough year, country star Eddie Montgomery has filed for Chapter 7 bankruptcy protection. According to the Lexington Herald-Leader, half of the country duo Montgomery Gentry filed for Chapter 7 bankruptcy in Kentucky with debts totaling $13.4 million.
His lawyer confirms the news, telling the Lexington Herald-Leader that the bankruptcy is due to his recent divorce and business closure. Court documents show that much of the debt is property taxes owed on his Harrodsburg, KY restaurant, Eddie Montgomery’s Steakhouse.
Montgomery’s $1.9 million in assets includes a shuffleboard table worth $2,000, a gun collection worth $1,500 and several vehicles worth close to $60,000. His four dogs were estimated to be worth $20 each.
Click here to read more on the story.
If you are in a financial crisis and are considering filing bankruptcy, contact an experienced Miami bankruptcy attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.