TMZ reports the former NFL player filed papers for Chapter 11 bankruptcy in Atlanta. According to Lewis’ bankruptcy documents, he generated $10,566,764.18 in debts, despite having $14,455,854 in assets.
Lewis’ creditors include Bank Of America, which has a lien for $947,876, Benz, which has a lien for $113,000 and Chrysler, whose lien totals $15,000, among others. With filing Chapter 11, Lewis can keep most of his assets while negotiating reduced and extended payments to creditors.
Lewis, who is best known for helping the Ravens win the Super Bowl in 2001, currently earns approximately $35,000 a month, according to the documents, which also list him as self-employed. Lewis’ assets amount to five homes, a string of expensive cars and a $500,000 401(k), and 50% ownership in Fort Rapids Indoor Waterpark in Columbus, OH (worth about $6 mil).