In what could be considered odd timing or some bizarre guerrilla marketing, just a day before the American Chopper reboot premiered in March 2018, Paul Teutul, Sr. filed for bankruptcy. According to Chapter 13 legal paperwork obtained by Page Six, Teutul admitted to owing nearly 50 creditors a total of more than $1.07 million, against a net worth of around $1.8 million. Teutul also claimed a monthly income of $15,000 and expenditures of just over $12,600. While that technically means Teutul makes more money than he spends, he wouldn’t have enough to pay off his crushing debts. Among his past-due payments, according to the filing: a $32,000 judgment, $151,000 in taxes to the Town of Crawford, New York, $21,000 in credit card debt, and $2,000 in medical bills.
It seemed as if Teutul would receive some legal protections with bankruptcy status, but the story wasn’t over. In April 2019, the trustee in charge of Teutul’s case asked the court to dismiss the bankruptcy petition on the grounds that Teutul never supplied the right documentation. According to that filing, Teutul “failed to provide” the trustee “with copy of a federal income tax return or transcript” for 2017 and 2018 and more proof that his financial situation “indicates a negative cash flow.”