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Discussion Starter #1
The chopper fad burned out long ago for those who did it because it was cool. It's still cool but just not a fad anymore. Long live the chopper!!

'American Chopper' star Paul Teutul Sr. files for bankruptcy



"American Chopper" star Paul Teutul Sr. says he's broke.

The reality TV star filed for Chapter 13 bankruptcy in New York on Feb. 28.

The Blast obtained documents that show Paul owns $1,801,729 in assets, and owes 50 creditors $1,070,893.44. Teutul said he makes $15,070.93 per month, but spends $12,612.

The website reports that he's trying to "reorganize and restructure [his] debt without risk of losing assets."

As for his assets, Teutul lists his home in Montgomery, New York, a 2011 Chevy Camaro, 2010 Dodge Challenger, 2009 Chevy Corvette and a "few pistols" worth around $200. He also listed "four dogs" (valued at $1 each) and "one old desktop" as part of his assets.

Teutul added that there is a $32,000 judgment against him and that he owes $151,230.98 to the Town of Crawford, New York, for taxes, as well. In addition, he says he owes about $21,000 to multiple credit card companies.

In the documents, Teutul said he owns his Orange County Choppers business, but claimed that the company's value is $0.

Paul further states that he has $50 in cash and $900 in a checking account.

In short, he says his bills are too hard to handle.


At least they got their tv show going again. That should pull him out of the hole soon. Debt sucks.
 

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No way....that guy has to make more then 180K a year.

Or he was just that bad with how he handled his money that its true.

We had certain members of my own family file bankruptcy only to have them turn around and all of a sudden buy a new house, two cars, new Harley and a new RV...needless to say we no longer have anything to do with that side of the family....But the Ohio state tax department and IRS sure wanted to to know know more.
 

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The new American Choppers aired yesterday, not that this was mentioned in it. He did mention business was down.

On a related note Jr showed he is in a new smaller shop saying the other cost far too much and also said business was slower than before.
 

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To me, watching a chopper show is like watching how buggy whips are made. Who wants or needs them?
 

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A red flag for me was the "few pistols worth $200". Anyone who knows anything about handguns know the cheap ones are almost $400 each. Yes, there are a few pocket pistols and really cheap ones in the $200 range, but most are up around $5-6oo and up.

I get it though. The idea is to devalue them enough to satisfy the feds on worth so they don't expect him to sell them. That's the downside of bankruptcy. I don't know if it's still this way but it used to be banks would love to lend bankrupt people money because they knew they couldn't claim it again for 10 years or so. Maybe it was 7.
 

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No way....that guy has to make more then 180K a year.

Or he was just that bad with how he handled his money that its true.
It's amazing what the overhead costs are on owning a business and leasing a building.

I was talking with a friend today who's wife (yes, his wife) is a trucker. She leases a (tractor) truck until it reaches 500k miles then turns it in to lease another new truck so she always has a truck with a warranty and something new(ish) to drive all around the country. She puts around 130k miles a year on them so they last her 4 years. The lease cost is over $2k a month plus insurance. On paper it looks like she makes a lot more than she actually does due to business costs. Of course many of those have been a write-off. I don't know how the recent tax reform will affect it.

When she takes time off work and that truck isn't moving; she still has the lease payment but no income from it. As they say in that business; "if it ain't rollin' it ain't earnin'".
 

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Paul T is in pretty good shape for an old fart(even through he's broke...) Maybe he should start staring in Viagra or Cialis commercials.....He'd get back to rich quick :wink
 

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Paul T is in pretty good shape for an old fart(even through he's broke...) Maybe he should start staring in Viagra or Cialis commercials.....He'd get back to rich quick :wink
Or anger management commercials,

Or against psychoactive drugs .....

( A psychoactive drug, is a chemical substance that changes brain function and results in alterations in perception, mood, consciousness or behavior.Wikipedia )

Ha ha, he has some serious tantrums history ....

Andre using TaPaTaLk
 

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Discussion Starter #9
Looks like more bad news for him.

Paul Teutel Sr. Slapped with Fraud Lawsuit


Paul Sr.'s terrible, horrible, no good, very bad decade continues

With reality TV star Paul Teutul already scheduled to appear in court later this month due to the foreclosure of his multi-million dollar New York State home, the last thing he needed was another lawsuit. Unfortunately for Paul Sr. that's exactly what happened. According to court documents obtained by Page Six, Teutul’s business partner and investor Thomas Derbyshire has accused Teutul of sabotaging a 2015 American Chopper reboot project, allegedly squandering the $3M Derbyshire had invested in the show on personal expenses.
 

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Pauls house for sale
Looks like something out of the Teletubbies design ... So instead of making a chopper show, he should invite all the Teletubbies to his hous and make a reality show about that ...

It worked for Mike Tyson with the puppets and neighbours ... ?

From Paul the Beast
to
Paul the friendly Teutul Bear

Andre using TaPaTaLk
 

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Yeah his house looks like a candidate to downsized his expenses, but not sure how large the mortgage is. I watched most of that first show last week. I tuned in late because I did not know it was on yet and ran across it by accident. I know that the shows are made on a few months relay but in this show he and some of his family members flew to Manila to unveil two new bikes. I thought that that was overkill and the airline tickets must have cost a bundle?
 

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Yeah his house looks like a candidate to downsized his expenses, but not sure how large the mortgage is. I watched most of that first show last week. I tuned in late because I did not know it was on yet and ran across it by accident. I know that the shows are made on a few months relay but in this show he and some of his family members flew to Manila to unveil two new bikes. I thought that that was overkill and the airline tickets must have cost a bundle?
I bet the casino paid their way. I know if it were me I would put that in the contract with them.
 

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I used to be a big fan of the show(s) for the builds but even more-so for the outrageous behavior of Senior/Junior and to see whether Mikey would ultimately implode. They made my own family seem more normal. I'd definitely give it another watch and hope people had matured - so what's it called and who's airing it?
 

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That shows in his communication abilities if things do not go the way we imagined it ....

Too much money kids are brats

Wel to do family from inheritance, or wel raised are most time kind and reasonable people ...

In Asia we call the differance OLD MONEY & NEW MONEY

Andre using TaPaTaLk
 

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I used to be a big fan of the show(s) for the builds but even more-so for the outrageous behavior of Senior/Junior and to see whether Mikey would ultimately implode. They made my own family seem more normal. I'd definitely give it another watch and hope people had matured - so what's it called and who's airing it?
Still called American Chopper and is on Discovery. I don't know the day or time.
 

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Rumor is off the merchandise alone, he pulled in over 45mill+ and still pulls in a good amount.
That's incredible! I don't understand how all these people that make money like that blow it all. I know I'd buy some things but come on!
 
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