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Nov 3, 2009 7:05 pm US/Central
Court Papers Detail Hecker's Income
(WCCO)
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On Thursday, Denny Hecker denied his estranged wife Tamitha Hecker's claims that he's living an extravagant lifestyle.
CBS
Denny Hecker has used all of the money in his 401k, but it isn't the only way he's getting enough money to live on. On Tuesday, court papers explained how the one-time auto giant is getting the money to pay his bills.
Hecker was required to tell a divorce judge where he's getting money to live on. According to Hecker, he needs $25,000 dollars to cover his expenses every month.
Court papers show that he started a company called New Dimensional Advisors, LLC, which advises auto dealers. The company's income has totaled about $25,000.
Hecker also received loans from a friend totaling $50,000 and a loan from a company called LKMCD Properties, LLC. for $100,000.
Hecker's own personal 401k was at the top of the income list. He cashed out and walked away with just more than $125,000.
He also documented that he's supposed to get $31,000 every month the next four years after selling two dealerships, Inver Grove Heights Toyota and Brainerd Toyota.
He claimed he hasn't gotten a penny so far because it's tied up in his bankruptcy filing.
A judge will soon decide whether Hecker will have to pay his wife $7,500 a month based on an agreement the two signed during their marriage.
Denny Hecker once documented that he was worth $192 million. Since his bankruptcy, he said it is far less.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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