Former NBA Athlete to Sell Possessions to Repay Debt in Bankruptcy

Darius Miles, who earned  $62 million as an NBA third pick, filed for bankruptcy in September. Miles assets will be liquidated topay his creditors. He listed $1.57 million in liabilities as well as $460,385 in assets.

http://www.complex.com/sports/2016/11/darius-miles-lebron-james-jersey-bankruptcy-auction

Miles intends to sell various items including sports items to repay his debts such as an autographed Mark McGwire baseball bat, PlayStation and Xbox consoles, large screen TVs, roughly 1,000 DVDs and CDs, firearms, and an autographed LeBron James jersey.

Miles played a combined nine seasons with the Clippers, Cavs, Trail Blazers and Grizzlies after going into the NBA directly out of high school. Injuries and a microfracture surgery caused him to miss two full seasons from 2006 to 2008.

http://www.complex.com/sports/2016/11/darius-miles-lebron-james-jersey-bankruptcy-auction

While often in a Chapter 7 bankruptcy a debtor is able to exempt assets so they do not lose them, in this case Miles assets far exceed allowed exemptions.

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