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Former Phillies and Mets star Lenny Dykstra’s financial fall hit another wall Wednesday as details about his bankruptcy filing emerged including revelations that he lacks home insurance and a $10,000 dog.
Dykstra went from tough as nails All-Star centerfielder during his playing days to financial guru in retirement. But he lived beyond his means as is evident by court filings.
The 46-year-old filed for bankruptcy protection last month. He owes millions of dollars but has virtually no income, according to court papers obtained by the Smoking Gun.
Part of Dykstra’s problem is that he listed liabilities of $37.1 million and claimed assets of $24.6 million, according to the Smoking Gun.
“The ex-athlete's list of creditors runs 22 pages and details debts to law firms, banks, aviation companies, former employees, pilots, credit card companies, hotels, a chef and the IRS,” the Smoking Gun reported.
The outlook is bleak for Dykstra considering that his only listed income was a $5,700 monthly Major League pension.
The trustee put in charge of handling Dykstra’s bankruptcy case asked that the case be converted to a liquidation or that another agent be assigned in the case because the house (that Dykstra purchased for $17.4 million in 2007) wasn’t actually insured despite the former ballplayer’s claim that the home was insured, according to the Wall Street Journal.
“This type of dishonest conduct warrants the appointment of another fiduciary for a debtor in bankruptcy,” the trustee, S. Margaux Ross, said in court papers.
At least he has one friend in these tough times. Among Dykstra’s listed assets was a German shepherd valued at $10,000.
Besides his financial breakdown Dykstra is also dealing with other problems. His wife Terri filed for divorce earlier this year and late last month his own brother Kevin sued him.
It looks like the man they called “Nails” will be seeing most of his belongings hammered away.