Former NASCAR driver Bobby Hamilton Jr. has fallen on hard financial times.
Hamilton Jr. filed the Chapter 11 bankruptcy papers last week. Hamilton Jr. and his wife are listed as debtors, as is his company, Hamilton Entertainment.
According to his filing, Hamilton Jr. lists assets of $551,825 and liabilities of $1,293,543. More than $929,000 of the liabilities are property mortgages or loans, while he also lists owing the Internal Revenue Service $198,000 for 2005 taxes.
Hamilton's father Bobby Sr. was a long-time NASCAR Sprint Cup Series and Camping World Truck Series driver who died of cancer in 2007.
The younger Hamilton competed in the Cup, truck and most recently the Nationwide Series before getting into the short track operation business three years ago.
Hamilton owned and operated two Tennessee weekly tracks - Highland Rim Speedway and Riverside Speedway Park - as well as working with a promotional group to organize races at the historic Nashville Fairgrounds Speedway.
|More NASCAR coverage|