Financially strapped "American Chopper" star Paul Teutul, Sr. sold his prized auto collection to keep his famous motorcycle shop afloat, according to court documents.
The new information, reported by The Blast, was discovered in Paul's ongoing bankruptcy case after a motorsports company claimed that the reality TV star stiffed them over work it did on his Corvette.
The company, which says it spent over $30,000 in parts, labor and storage fees, claims Paul promised to pay in the form of either TV exposure on one of his shows or cash.
Paul, though, has responded, alleging that he never agreed to pay a for the custom work from JTM Motorsports, and had only bartered TV time. To support his claim, he said he sold off 17 vehicles from his personal collection "in order to subsidize business operations" at Orange County Choppers, The Blast says. Considering his dismal financial position, he said he would have never agreed to pay money for the car work. However, since his show "American Chopper" has been rebooted, he is willing to pay JTM in the form of exposure.
To put it lightly, Paul's finances are in disarray.
In February, he filed for bankruptcy filing, admitting that he owns $1,801,729 in assets, but owes 50 creditors $1,070,893.44. Paul said he makes $15,070.93 per month, but spends $12,612.
The reality TV star also owes $22,364.60 in state taxes for his Newburgh, N.Y. based restaurant, Orange County Choppers Cafe.
In his initial bankruptcy filing, Paul added that there is a $32,000 judgment against him and that he owes $151,230.98 to the Town of Crawford, New York, for taxes, as well. In addition, he says he owes about $21,000 to multiple credit card companies.
In those documents, Paul said he owns his Orange County Choppers business, but claimed that the company's value is $0.
At the time, he further stated that he has $50 in cash and $900 in a checking account.