L.T. Files For Bankruptcy
Pro Football Hall of Fame nominee Lawrence Taylor filed for personal bankruptcy, a little more than a week after being arrested on a drug charge in Florida and later entering rehabilitation.
The Chapter 7 bankruptcy filing was made on Thursday in U.S. Bankruptcy Court here in part to avoid a possible foreclosure on Taylor's $605,000 home in Upper Saddle River, Thomas Melani, Taylor's attorney, said Friday.
"He has had very poor management surrounding him," Melani said. "He has not had anyone taking care of his affairs and looking out for him in a positive frame, and he has relied upon people to take care of his affairs and (they) haven't been too effective in doing that."
The former New York Giants great was at least one year behind in his mortgage payments, the New York Daily News reported Friday. Although the remaining balance was only $220,000, about $350,000 was due when adding missed payments, penalties, late fees and attorney fees, the newspaper reported.
| Lawrence Taylor's problems get worse. (AP) |
Taylor returned to a drug rehabilitation center in the New York area on Monday, seven days after being arrested in Florida on crack cocaine charges for the second time in three years. Taylor contends he was set up by police in this latest case.
"It hasn't been good at all," Melani said of Taylor's lasweek. "It hasn't. This has been very difficult for him."
Taylor, one of the greatest linebackers in NFL history in a 13-year career with the Giants, was announced among 76 nominees for the Pro Football Hall of Fame on Thursday.
© 1998 SportsLine USA, Inc. All rights reserved