{"id":645,"date":"2012-08-02T23:27:47","date_gmt":"2012-08-02T23:27:47","guid":{"rendered":"http:\/\/www.westcoastbk.com\/blog\/?p=645"},"modified":"2012-09-12T06:09:16","modified_gmt":"2012-09-12T06:09:16","slug":"jose-canseco-seeks-bankruptcy-protection-in-nevada-under-chapter-7","status":"publish","type":"post","link":"https:\/\/www.westcoastbk.com\/blog\/2012\/08\/jose-canseco-seeks-bankruptcy-protection-in-nevada-under-chapter-7\/","title":{"rendered":"Jose Canseco Seeks Bankruptcy Protection in Nevada Under Chapter 7"},"content":{"rendered":"

By Ryan C. Wood<\/a><\/p>\n

On July 31, 2012, former baseball star and controversial author filed for bankruptcy protection under Chapter 7 of the bankrupt code in Nevada, case number 12-18916.\u00a0 Like many Americans faced with financial difficulty it is tough to choose bankruptcy as the answer.\u00a0 It is particularly troubling when someone who has earned millions of dollars has to make that choice too.\u00a0 I still have baseball cards from when Mr. Canseco was part of the bash brothers and the Oakland A\u2019s.<\/p>\n

According to court documents most of Mr. Canseco\u2019s financial woes are primarily tax and judgment related.\u00a0 Schedules E and F list a tax debts owed to the Internal Revenue Service, the State of California, the State of Florida and the State of New York.\u00a0 It appears most of the tax debt owed is dischargeable in the bankruptcy.<\/p>\n

Jose lists his current monthly income as $7,500 a month and expenses totaling $4,450 including $3,100 per month in food.\u00a0 I think that is the highest amount I have ever seen as a bankruptcy lawyer<\/a> listed in a bankruptcy petition for food.\u00a0 I used to work for a Chapter 13 trustee and have reviewed many petitions prepared by other bankruptcy attorneys<\/a> and have filed bankruptcy for many people.\u00a0 It is possible, but usually high food expenses are related to eating disorders or diabetes.<\/p>\n

Tri-Tech Restoration Co., Inc. of Burbank, California holds a judgment totaling approximately $77,859.\u00a0 Another judgment owed to Christopher Amirault appears to be the result of an eviction back in 2008.\u00a0 Canseco allegedly dumped a lot of sand in the backyard left the house a mess according to court records.\u00a0 Another judgment owed to Christian Presley totaling $785,344 allegedly resulted from a fight in Florida years ago that involved Ozzie Canseco too.<\/p>\n

Hopefully Mr. Canseco can weather the financial storm with unpaid taxes and move on with life without burdensome debt like everyone else that seeks bankruptcy protection.\u00a0 His baseball career seems to be wrapped up for the most part, but that does not mean he cannot leverage his notoriety in some other way in the future and make some good money again.\u00a0 That goes for anyone that files bankruptcy.\u00a0 Just because you hit a rough patch does not mean the whole rest of your life is ruined.\u00a0 Bankruptcy will help you get a fresh start and help you to rebuild your finances.\u00a0 It takes time, hard decisions and work to rebuild your credit score.\u00a0 At the end of the day we are just talking about money.\u00a0 There are more important things in life.<\/p>\n","protected":false},"excerpt":{"rendered":"

After many years of troubles Jose Canseco filed for bankruptcy protection under Chapter 7 of the bankruptcy code in Nevada. After earning millions of dollars it is always tough to hear about a bankruptcy such as this. Hopefully Mr. Canseco and turn it around and make some good money in the future.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[65],"tags":[],"_links":{"self":[{"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/posts\/645"}],"collection":[{"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/comments?post=645"}],"version-history":[{"count":3,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/posts\/645\/revisions"}],"predecessor-version":[{"id":680,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/posts\/645\/revisions\/680"}],"wp:attachment":[{"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/media?parent=645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/categories?post=645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/tags?post=645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}