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Broke Lorenzo Lamas files chapter 7 bankruptcy

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Actor Lorenzo Lamas is having money troubles that are severe enough to cause him to file for bankruptcy for the second time. The 57-year-old actor from the reality TV show, “Leave It to Lamas” no longer works and he has amassed a mountain of bills totaling over $322,000. According to the bankruptcy documents found by Radar Online, Lorenzo claims that he has only $9,100 in assets.

According to Radar Online, Lorenzo was discharged from bankruptcy five months later. They removed, or forgave, some bills which lightened his total debt. However, it did not wipe out the $285,000 he owes in state and federal taxes from 2003. Nor does it abolish the unpaid support to his four ex-wives and three children, which amounts to roughly $19,000.

Lorenzo is married to Shawna Craig who works as a nightclub secretary. She is the only one collecting a paycheck, which amounts to $2,400 per month after deductions.

This is the second time; Lorenzo has filed Chapter 7 bankruptcy. The first time was in 2004. Lorenzo reportedly said after the first one, “That was my greatest fear, losing the means to support my family. But somehow I managed to pull it together and I did what I needed to do.”

Apparently, Lorenzo didn’t learn from his first bankruptcy. Do you think he will learn, or is he destined to keep repeating this mistake?


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