Raiders Coach Bankruptcy Ends With Payment Plan Deal

Professional athletes, as well as the coaches for their teams, are known for earning astronomically high salaries. But this industry is also known for producing high-profile bankruptcy cases, with new millionaires making poor investments or simply living a lifestyle too extravagant to maintain in the long term. One former Las Vegas Raiders head coach demonstrated this phenomenon through his recently closed bankruptcy case. While not indicative of a typical bankruptcy filing, this case shows that uncontrollable debt can happen to just about anyone.

Antonio Pierce was the head coach for the Las Vegas Raiders in 2023 and 2024. He previously played as a linebacker in the NFL, winning the Super Bowl with the New York Giants in 2007. But Pierce invested in car dealerships over a decade ago, which have since defaulted on their loans and caused their creditors to pursue Pierce for the funds. Nissan has a judgment against Pierce in the amount of $22.4 million, and Hyundai has an additional judgment against Pierce worth $5.8 million.

Clearly, this amount of debt would be overwhelming for anyone, even a professional football coach clearing six figures per month. Antonio and his wife Jocelyn filed for bankruptcy last year to activate the automatic stay and prevent creditors from pursuing their assets for collection, including by garnishing Antonio’s wages. The case was dismissed on April 29, 2025. The Pierces declared assets of approximately $9.2 million in their petition, and reached an agreement with their creditors to pay back $7.2 million. Nissan will receive $4.5 million (out of $22.4 million), with two payments of $750,000 already having been made. The rest of the balance will be paid in biannual payments of $500,000. Hyundai will receive $2.7 million (out of $5.8 million), with one payment of $750,000 already having been made and the rest payable in quarterly installments of $130,000. After reaching these agreements, the bankruptcy case was finalized on May 30, 2025.

`Most bankruptcy debtors will not have the luxury of negotiating with their creditors when their cases are dismissed and they are no longer protected by the automatic stay. However, the Pierces’ creditors may have had an incentive to do so due to receiving payments of several hundred thousand dollars while the negotiations were still pending. Additionally, the Pierces have one home in Arizona and three homes in California serving as collateral for their agreements with their creditors. In most cases, the debtor should take all steps possible to avoid having their case dismissed. When the protections from the automatic stay lapse, creditors can garnish wages, file lawsuits, repossess assets, and more. Don’t let this happen to you if you plan to file for bankruptcy due to overwhelming debt. Our Henderson Bankruptcy Lawyers are skilled and understanding about the situations that lead people to need debt relief. We offer convenient appointments by phone and affordable payment plan options starting at Zero Dollars Down. See if you qualify today with your free phone consultation at 702-899-3328.

Paying Off Debts With A Chapter 13 Payment Plan

The Pierce bankruptcy case is not an example of how bankruptcy filings typically resolve for debtors. But the Pierces had substantially more debt than the typical debtor has, as well as far more assets. This gives creditors less incentive to work out a payment agreement when the debtor’s bankruptcy case has been dismissed and the protections from the automatic stay are gone. But more often, households struggling with debt can arrange for a plan to pay off their non-dischargeable debts through chapter 13 bankruptcy.

Chapter 13 is the second most common form of consumer bankruptcy, falling behind chapter 7 bankruptcy. Some debtors file for chapter 13 bankruptcy because they need to pay off debts that can’t be cleared in chapter 7 bankruptcy, and some file for chapter 13 bankruptcy because they don’t qualify for chapter 7 bankruptcy. Because chapter 13 takes longer to complete, it also provides a longer period of protection from the automatic stay. Because debts are paid off in chapter 13, the waiting periods are generally shorter and debtors with higher income are still eligible to file.

Debts are paid off in four categories in a chapter 13 bankruptcy payment plan. The first debts to be paid are bankruptcy fees, including those paid to the court and the debtor’s attorney. Next are secured debts, or those with assets attached as collateral. Typically, a secured debt, such as an auto loan, must be paid in full in chapter 13 bankruptcy. But in some jurisdictions, a home mortgage does not need to be paid in full in a chapter 13 plan in order for the debtor to qualify. The third debts paid in chapter 13 bankruptcy are priority debts. The last category of debts paid off are unsecured non-priority debts. These are the debts that would be cleared if the debtor declared chapter 7 bankruptcy instead. Common examples include credit cards, medical bills, and personal loans. If the debtor doesn’t have enough income to pay off these debts in the course of the payment plan, they can be cleared at the end of the case- this is either 3 or 5 years, depending on the debtor’s income level. The debtor must have enough disposable monthly income to pay off the first three categories of debt to prove their eligibility for chapter 13 bankruptcy, which is confirmed by the trustee at a plan confirmation hearing.

There are many benefits to filing for chapter 13 as opposed to chapter 7 bankruptcy. It can be viewed more favorably in future financial applications as important debts are repaid instead of being cleared. It also remains on the debtor’s credit report for less time- 7 years, as opposed to 10 years with a chapter 7 filing. When a debtor completes chapter 13 bankruptcy, they can be entirely debt-free, while a chapter 7 debtor can be left with secured and priority debts remaining. A chapter 13 debtor also has the opportunity to clear a secondary mortgage on their home if they owe on their home than its market value. All of these advantages can make chapter 13 appealing to a debtor, even one who also qualifies to file for chapter 7 bankruptcy. If you are undecided between chapter 7 and chapter 13 bankruptcy in Henderson, call 702-899-3328 to speak with an experienced member of our firm today.

Henderson Bankruptcy Lawyers With Years Of Localized Experience & Flexible Payment Plan Options

Filing for bankruptcy inaccurately can put you at risk of creating financial circumstances that are worse than those that led you to bankruptcy in the first place. Debtors who choose to file for bankruptcy without an attorney see higher dismissal rates and other issues arise throughout their cases. Some do so because they believe self-representation isn’t a choice, as they can’t afford the up-front fees that many bankruptcy lawyers charge. But our Henderson Bankruptcy Lawyers make the process more affordable with Zero Down payment options and free initial consultations by phone. Let us put our experience to work by helping you clear debts with as little stress and hassle as possible. Schedule your free consultation today by phone at 702-899-3328.