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Former NBA star Allen Iverson has really been strapped for cash over the past few years. His monthly income is over $62,,000/month; however, the 11-time All Star baller reportedly racks up over $350,000/month in expenses ranging from entertainment to utility bills.
Iverson recently made headlines when celebrity gossip site TMZ learned that his $4.5 million Atlanta mansion was up for foreclosure and set to be auctioned on December 4. Iverson placed legal documents in court to halt the foreclosure process when he filed a lawsuit against the lender, alleging that he never consented to the loan.
He attributes the alleged bogus loan to his estranged wife’s spiteful behavior. The lawsuit has granted Iverson some extra time to save his home from foreclosure while he’s suing the lender. After retiring from the NBA in 2010, Iverson played professionally in Turkey for Besiktas and in China for a celebrity game. Although Iverson inked a two-year $4 million contract for Besiktas, media outlets claimed he was still struggling to maintain his finances. He denies that his move to Turkey was due to his finances.