Danny Trejo has proposed a reimbursement plan as a part of his Chapter 11 — which might require the legendary actor to make funds totaling $800k per 12 months till early 2028, RadarOnline.com has discovered.
In keeping with courtroom paperwork obtained by RadarOnline.com, the Spy Youngsters star stated he’s able to repay his large tax debt.
Earlier this 12 months, Trejo filed for chapter itemizing $2.2 million in belongings and $3.6 million in liabilities. Most of his debt was again taxes which the entertainer stated was brought on by taking improper deductions for years. The case covers the actor individually and doesn’t embody his varied profitable companies. The actor has a stake in an especially widespread espresso/donut store, a taco restaurant, and a file label.
Court docket data revealed Trejo’s month-to-month revenue is $165k and his month-to-month bills complete $14k.
His belongings embody a house in Mission Hills, Cali value $1.2 million and a 2nd property within the metropolis of Pacoima value $750k.
Different belongings embody a 1942 Chevrolet Grasp Deluxe value $10k, a 1976 Cadillac Seville 4D value $12k, a 1998 Cadillac Eldorado 2nd value $5k, a 2001 Cadillac Eldorado 2D value $7,500, a 1961 Ford Truck value $15k, a 2006 Vary Rover value$6k, a 1997 Cadillac Eldorado value $2k, a 2005 Ford Truck value $8k, a Harley Davidson motorbike value $7,500 and a 2006 Mercedes Benz value $12,500.
As well as, he has $15k value of family furnishings, $10k value of clothes, and one other $10k in jewellery. Trejo stated he had $10k in money and one other $5k in his financial institution accounts.
In his new submitting, the actor’s lawyer wrote, “Danny Trejo is a widely known and widespread actor and entrepreneur, he has appeared in lots of movies together with Desperado, Warmth, From Nightfall Until Daybreak, Con Air, Spy Youngsters, the Machete franchise and plenty of different motion pictures and productions. Mr. Trejo additionally spends a considerable period of time as a drug counselor and is engaged in public service actions.”
Trejo stated he earned $1.1 million in 2020, $1.7 million in 2021, and $3.3 million in 2022. His proposed reimbursement plan has him making a complete of 4 funds of $200k per 12 months totaling $800k. He’ll make the funds from October 2023 by means of February 2028, when he would make a remaining fee of $300k.
His lawyer did be aware, “Mr. Trejo’s appearing profession has over three many years and he continues to be in widespread demand for movies and different productions and the Debtor contends that due to this fact is an inexpensive chance that he’ll make all funds below the Plan. The leisure trade, nevertheless, is unsure by its nature and Mr. Trejo’s revenue shouldn’t be assured.”
The decide has but to log out on the plan.