Chad Johnson needs to turn things around soon or whatever assets he has left will be gone quickly. He has been trying to get his child support reduced for a while and has pleaded with the judge (luckily not the one who has thrown him in jail).
The problem is a simple one, he doesn’t have a lot of income coming in, but has a lot expenses going out.
In docs filed, Johnson claims to only make about $3,000/month … but that immediately disappears thanks to the $16,525 he already pays in child support.
Then when you get to his own expenses, Johnson forks over $9,063.24 in mortgage payments, $2,500 for food, $2,650 on car expenses, $3,500 on clothing, $250 for grooming, $5,000 on entertainment, $1,000 for pet expenses along with various other expenses that total $31,154.76.
Add it all up … and Johnson is in the red $45,982.76/month
Reports are that Johnson has about $4-5 million in assets, but unless he is able to start making more than $36k a year, he might be on Dr. Phil crying like T.O.