Jerry Maguire Filing Bankruptcy?

Posted on January 13, 2012 at 9:28am by

Show me the money! He yelled in the phone repeatedly at the request of Rod Tidwell back in 1996. I’m speaking, of course, of Jerry Maguire in the movie starring Tom Cruise so aptly named, you guessed it, Jerry Maguire.

Turns out the inspiration behind the larger than life NFL agent, Leigh Steinberg, recently filed for Chapter 7 Bankruptcy protection in California. He blames his addiction to alcohol, which caused him to completely lose track of his finances, leading to several million dollars worth of debt.

Now sober for two years, but under pressure from aggressive collection efforts, the Chapter 7 filing follows a bench warrant stemming from a case in which he failed to appear. The case involves $1.4 million dollars in debt related to leasing of office space.

Steinberg explains that he procrastinated in filing bankruptcy out of moral and legal obligation. We wrote about the morality of bankruptcy back November. This is classic case of failing to run his life like a business (point #3 of our article). Maybe you’re not struggling with a multi-million dollar lease, but if you’re on the fence about whether to file bankruptcy and start the year fresh, give us a call to talk through your options for free. You can reach us at (816) 561 1818!