Pilar Sanders -- Deion Will Only Give Me Money for Sexual Favors

Pilar Sanders claims Deion Sanders is holding her as a "financial hostage" ... completely severing her cash flow ... and has only offered to give her money in exchange for sex ... this according to new court papers obtained by TMZ.

Pilar has filed an emergency motion in a Texas courtroom ... claiming the NFL legend has canceled her credit cards and left her without any financial means to support herself and their children ... and she needs the judge to force Deion to give her money so she can survive.

In the docs, Pilar claims, "Since [Deion] filed for divorce on December 21, 2011, he has given [Pilar] $300.00 and offered her money in exchange for sexual favors."

She then notes, "Pilar turned down the money."

Pilar is begging the court to force Deion to give her money stat ... claiming "The children and I have lived in survival mode for several months, and the emotional toll on all of us is palpable."

Pilar also claims Deion has canceled her cell phone and has "engaged in a pattern of systematically removing my belongings from the house and haphazardly throwing them into piles in the garage of the residence."

Pilar claims Deion still rakes in more than $1 million per year ... and she NEEDS a cut of his income to survive.