American Chopper star Paul Teutul Sr. has filed for Chapter 13 bankruptcy in New York as his Discovery Channel show is set to return to television.
Teutul claims he owes creditors just over $1 million and is worth $1.8 million, PageSix.com reported Thursday.
In his paperwork, the 68-year-old said he makes a little over $15,000 a month and spends $12,612 a month, according to the website.
Financial woes: American Chopper star Paul Teutul Sr., pictured in 2009, has filed for Chapter 13 bankruptcy in New York as his Discovery Channel show is set to return to television
Teutul and his son Paul Jr. found fame on the reality series that followed them as they built chopper-style bikes for a high-profile roster of clients.
American Chopper ran in different incarnations on Discovery Channel and TLC from 2003 through 2012 and showcased the sometimes volatile relationship between father and son.
Discovery revived the show with the new series set to premiere today and has said it says it will focus on the Teutuls struggle to reinvigorate their businesses and reconcile their fractured relationship.
Filed documents: Teutul, 68, pictured in LA last year, claims he makes a little over $15,000 a month and spends $12,612 a month and owes creditors just over $1 million
Paul Sr. listed his assets in his court filing as the family property in Montgomery, Kentucky, which is now in foreclosure, three cars, four dogs and an old desktop, PageSix.com said.
He also has medical bills totaling more than $2,000.
A representative for the reality star told PageSix that his bankruptcy filing rep ‘is part of the personal restructuring caused by the tax assessment which is a pro-active, not reactive situation which is a positive thing for Mr. Teutul.’
New series: American Chopper ran in different incarnations on Discovery Channel and TLC from 2003 through 2012 and Discovery’s revival of the show premieres Thursday