Jose Canseco files for Chapter 7 bankruptcy

Posted on Wednesday, August 1st, 2012 at 8:36 pm    

Former baseball player Jose Canseco has filed for Chapter 7 bankruptcy protection, the Las Vegas Sun reports. Canseco was named the 1986 Rookie of the Year and the 1988 American League MVP when he played for the Oakland Athletics.

According to the bankruptcy filing, the 48-year-old lists $20,850 in assets and nearly $1.7 million in liabilities. Canseco has significant tax debts with more than $500,000 owed to the IRS. He will be seeking asset liquidation under Chapter 7.

Although he later admitted to using performance-enhancing drugs during his time in the majors, Canseco currently ranks number 34 for most home runs all time at 462.

If you would like to learn more about the qualifications for Chapter 7 bankruptcy, contact the experienced Raleigh bankruptcy attorneys at the Bradford Law Offices, PLLC, by calling 919-758-8879.