Contact
Contact

Contact Us

Bold labels are required.

NameThis field is required.

disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Simon, Fitzgerald, Cooke, Reed and Welch
Simon Fitzgerald, LLC
Louisiana’s Oldest Bankruptcy Law Firm
888-341-8091
Free Case Evaluation
View Our Practice Areas

Former TV celebrity, facing Chapter 13 complications

Louisiana residents who are currently facing serious financial quandaries are definitely not alone in their struggles. Such crises are also not isolated to the general population, as even many celebrities have sought immediate debt relief, such as Chapter 13 bankruptcy, when they've been unable to resolve their money problems. A former star of a popular TV series, "American Chopper," which stopped in airing in 2010, is trying to save his home from foreclosure.

Paul Teutul, Sr., who starred in the show along with his son, is known for creating some of the most unique, custom-designed motorcycles in the world. The duo's show was popular for approximately seven years, before going off the air. In fact, many motorcycle enthusiasts still watch the reruns on cable TV.

Teutul has filed Chapter 13 bankruptcy to try to restructure his financial obligations to help get things back on track. In the meantime, the bank where he secured a $1.5 million loan to buy his house some years ago has also filed foreclosure proceedings. The Chapter 13 filing halted legal proceedings against Teutul; however, the bank is asking the court to allow it to continue with the foreclosure proceedings because it had already been activated before Teutul filed for bankruptcy.

The bank has represented the court that it cannot wait any longer to receive payback for the loan without suffering irreparable economic harm. Many Louisiana residents have been able to save their homes from foreclosure by filing Chapter 13 bankruptcy. The court makes its decisions on a case-by-case basis. To increase the chances of obtaining a positive outcome, it is always a good idea to ask an experienced bankruptcy attorney to act on one's behalf in court.

 

No Comments

Leave a comment
Comment Information
Email Us For A Response

Office Locations

Shreveport Office
4700 Line Avenue, Suite 200
Shreveport, LA 71106
Phone:318-550-4873
Fax: 318-868-8966

Map & Directions

Shreveport Office

Alexandria Office
1118 3rd Street
Alexandria, LA 71301
Phone: 318-224-0340
Fax: 318-868-8966

Map & Directions

Alexandria Office

Lafayette Office
2901 Johnston Street, Suite 202
Lafayette, LA 70503
Phone: 337-205-0492
Fax: 337-456-5465

Map & Directions

Lafayette Office