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It is almost certain that many of the people, in Miami and beyond, who found themselves facing financial difficulties over the course of the past few years never thought it would happen to them. Despite this, individuals, including even the most affluent, have had to find creative ways to deal with this problem. Five-time heavyweight champion Evander Holyfield is not an exception to this.

Despite his fame and career that has reportedly grossed over $640 million, Holyfield is currently facing just this problem. He has lost a home to foreclosure and is now in the process of preparing for an auction of his personal property to try to raise money to pay back the amounts he owes.

A wide variety of items are slated to be sold at the auction including:

  • Household items
  • Jewelry
  • Car collection
  • Boxing memorabilia

Included in the latter group are the bronze medal Holyfield won in the 1984 Olympics, world title belts, photos, trophies and even the gloves he had on during the fight with Mike Tyson, when he lost part of his ear.

It is unclear whether the proceeds from this sale will bring in enough money to cover his outstanding bills. If it does not, he may find that filing for bankruptcy is a good option.

As regular readers of this blog are aware, there is no shame in resolving your financial difficulties by filing for bankruptcy. Many people, from all walks of life, find themselves taking this step each day, maybe even famous boxers such as Evander Holyfield.

Source: The Boston Herald, “Evander Holyfield’s fight plan includes an auction,” Ron Borges, Aug. 15, 2012

  • We handle Chapter 7 and Chapter 13 bankruptcy filings occurring throughout Southern Florida. If you would like to learn more about our practice, please visit our Miami Chapter 7 bankruptcy page.