Fact is, living beneath your means isn’t enough. You have to live beneath your future means — and save enough along the way so that those $860,000 checks to the jeweler don’t bounce.
According to court papers obtained by TMZ … Iverson was sued back in 2010 for allegedly stiffing Aydin & Company Jewelers on a $375,000 bill.
The records show … A.I. never responded to the lawsuit … so a default judgement was issued in favor of the jewelry store … allowing A&C to collect $859,896.46 for the bling, court costs, interest and attorneys fees.
In Allen’s defense, why would his jeweler give him $375,000.00 worth of jewelry without a credit card?