'American Chopper' Dad Paul Teutul Sr. in Danger of Losing Prized Possession

American Chopper personality Paul Teutul Sr. filed for bankruptcy back in early March. But an unfortunate oversight he made while filing might cost the motorcycle mogul one of his prized possessions.

The Blast reports JTM Motorsports claimed in legal documents on April 13 that Teutel failed to name them as a creditor when he filed bankruptcy, even though they claim he owes them over $50,000 for a 2009 Chevrolet Corvette ZR1.

Teutel brought the car in for modifications back in August, and the company claims they spent $24,000 for parts, $26,000 in labor and $10,000 in storage fees, but Teutel failed to pay.

JTM also claimed he promised the shop would get exposure on his series Street Outlaws and the revival of American Chopper, which returns to the Discovery Channel in May, and that their business relationships with other vendors were damaged as a result.

The company now has several legal demands, including wanting to auction off the car to cover expenses and have Teutul's bankruptcy claim be thrown out as they were not listed in his original filing. JTM also claimed in legal documents that Teutel had more assets that he deliberately hid in the filing, according to The Blast.

Teuteul's filing claimed he owed $1,070,893.44 to roughly 50 creditors but only brings in $15,070.93 a month. Other expenses against him include a $32,000 judgement aainst him, $21,300 in credit card debt, $2,000 in medial bills and $151,230.98 in taxes.

Teutul's rep told Page Six that he "is part of the personal restructuring caused by the tax assessment which is a pro-active, not reactive situation which is a positive thing for Mr. Teutul."

Along with American Chopper's return on May 28, Teutul has a new show Orange County Choppers beginning production this summer for CMT.

"We're thrilled to be back on television doing what we do best: building outrageous custom motorcycles," Teutul said in a statement. "We have a lot of very cool projects coming up and can't wait to deliver on this new partnership with CMT and Pilgrim."

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Much like the American Chopper series, the show will follow Teutul and his co-workers as they design and build creative custom-made motorcycles.

"Pilgrim's relationship with Paul Sr. goes back more than a decade, and we've seen his creative and mechanical genius first-hand," said Craig Pilgian, Pilgrim Studios' head and executive producer. "We're so glad to be working with him again and look forward to bringing OCC's unique brand of excitement and inspiration to CMT viewers."