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Allen Iverson

Buried in Bills ...

But Drives a Maybach

12/4/2012 12:30 AM PST BY TMZ STAFF
EXCLUSIVE

1202_allen_iverson_gettyFormer NBA star Allen Iverson is digging himself into a giant financial hole -- with monthly bills that largely outweigh his monthly income -- but the good news is ... he's still got his fancy-schmancy Maybach.

Allen recently filed docs in GA court as part of his nasty divorce battle with his ex Tawanna Iverson which outline his dire financial situation.

According to docs, Allen brings in $62,500 in monthly income, but his expenses are FAR, FAR, greater ... costing him a cool $358,376.66 PER MONTH!!!!

So where does all his money go?

A large chunk -- $125,749.33 to be exact -- is spent paying off various creditors (like his jeweler) ... and some goes to his mortgages (but not for long, since his ATL crib is about to be auctioned off).

But Allen says he blows a lot on OTHER expenses too ... like $10,000/month on clothes, $10,000/month on grocery/house items, $1,000/month on dry cleaning, $5,000/month on entertainment, $5,000/month on restaurants ... and so on.

All in all, Iverson -- who reportedly made over $150 MILLION during his NBA career -- says he ends up in the hole each month to tune of $295,876.66. Ouch.

Despite the mounting debt though, he's still got his Maybach (which is fully paid off) ... and reportedly worth between $340k - $400k.

1202_maybachusa-com_CAR

For more sports stories, check out tmzsports.com!
106 COMMENTS

No Avatar
1.

jackmama311    

wish i could say that's a sweet looking ride, but it ain't.

655 days ago
2.

People Annoy Me    

This guy does not know how to handle his money. I'd say get an accountant to help him manage his money, but I don't think he can afford it.

655 days ago
3.

jayman419    

How does he manage to come up with 10 grand a month to buy clothes? What happens to last month's clothes?
And with double his income just in essentials, why is he spending $60...,000 a year on entertainment? How many times can you watch Madea's Witness Protection in a month, really?

655 days ago
4.

Tony192    

I don't understand the $1,000 monthy in groceries since he also reported that he spends $5,000 a month eating outside in restaurants????

655 days ago
5.

Diamond Goddess!    

3 Options Here--
1. Idiot
2. Hiding assets because of divorce
3. Both!!!
lol

655 days ago
6.

OH NO!    

You can't expect a Playa to drive a Honda Civic....LOL. He can trade it in for a house in Iowa, when he goes broke.

655 days ago
7.

carbin    

Why do these guys continually bring all the stereotypes to life?!?!

655 days ago
8.

heather    

Sexy sexy sexy sexy sexy sexy sexy sexy sexy sexy sexy

655 days ago
9.

miu    

First thing I read was ALIEN INVASION... that confused me a little bit. I need more coffee.

655 days ago
10.

ex    

Let him go broke! Stupid idiot was not smart enough to pay his taxes, so the government is going to take it! You got to be a moron to make as much money as this dude has and have financial problems!
Pretty stupid to think you were going to screw the government over...

655 days ago
11.

Yawdie Gyal    

A fool and his money are easily parted........

655 days ago
12.

heather    

Sexy sexy sexy. he's so handsome and gets all the ladies. dont hate cause yall just wish you had his life...

655 days ago
13.

pancake    

wow nice at least is spacious all the family can live there

655 days ago
14.

the artist formerly known as hand turkey    

I guess when you come into money, it's easy to start spending like you have a bottomless bank account. Sports figures especially need to realize--here today, gone tomorrow.

654 days ago
15.

Phishie from Philly    

David Chappell called this being nig.ga rich!
..

654 days ago
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