Bobby Hamilton Jr files for chapter 11

Hamilton Jr. and wife Stephanie

Bobby Hamilton Jr. and wife Stephanie filed for Chapter 11 bankruptcy in a Tennessee court last week. The petition involves their business, Hamilton Entertainment. The filing said the couple owes $198,000.00 to the IRS, $126,081.00 to Credit Union for Robertson County, and over $30,000.00 to various other creditors.

According to the papers, the couple has four real estate property holdings, two residential properties along with two commercial properties with a total combined value of $523,300.00. Combined with personal property assets, the total assets are listed as $551,825.00, with a liability total of $1,293,543.00. Last year the couple surrendered a motorhome to the Robertson County Credit Union, but has no other repossessions or foreclosures.

The couple claims a combined average monthly income of $11,417.00, with a monthly net income of $9,755.00. Sunday marked five years since Hamilton’s father, Bobby Sr., died of cancer at the age of 49.