TMZ reports that more than $125,000 of his money is going toward paying off several creditors, including his jeweler and mortgages. And his Atlanta home is going to be auctioned off soon.
Iverson spends $10,000 on clothing each month, $5,000 on entertainment and another $5,000 at restaurants.
Iverson made more than $150 million during his NBA career. At the end of each month, he is $300,000 further into debt.