Former player for the Minnesota Timberwolves, Christian Laettner, is likely to find himself in bankruptcy court after his creditors took legal actions to recover the funds owed to them by Laettner, The Sydney Morning Herald reported.
According to reports, the 46-year-old Laettner has to settle $14.05 million worth of debt to his creditors. At least five of his creditors, including National Servicing & Administration, have initiated involuntary bankruptcy proceedings to force him to file for bankruptcy. Legal counsel for Laettner confirmed that they are currently negotiating with creditors to pay them back. Laettner was struck with overwhelming financial problems from his real estate business after retiring from the NBA.
If you are struggling with a great financial burden, working with a skilled attorney can help you determine how to recover and regain control of your finances. The Birmingham attorney from Greenway Bankruptcy Law, LLC may be able to represent you if you need to file for bankruptcy. Call (205) 324-4000 to learn more about your legal options.