Michael Vick Has Nearly Made His Way Out Of Bankruptcy Debt
After racking up a massive debt of nearly $18 million and then filing for bankruptcy, Michael Vick has nearly made his way to being completely debt-free.
In July of 2008, Vick had filed for Chapter 11 bankruptcy after racking up nearly $18 million in debt. At the time, he was currently in federal prison for dog-fighting charges.
After getting out of jail and back in the game, Vick had lived on a restricted budget of $300,000 a year, redirecting more than 50% of his income to paying off the debt.
Although $300,000 isn’t a small number by any means, Vick had earned more than $49 during the five-year period from 2010-2014 while playing four seasons with the Philadelphia Eagles and one season with the New York Jets.
At this point, Vick has repaid more than $15 million of his accrued debt, leaving a small percentage left to tack off in order to be completely debt-free.
If you are currently overwhelmed by debt, don’t worry, there’s a way out. Bankruptcy can help you get back on your feet and moving forward in the right financial direction. You don’t have to live hiding from collection calls forever, and, in fact, filing for bankruptcy will put a halt to all harassing calls from your creditors. If you’re going to be filing for bankruptcy, though, it’s always in your best interest to have a legal expert on your side.
Our bankruptcy attorneys are the best in their field, and their keen attention to detail will ensure that you are given every benefit possible. Don’t face the bankruptcy courts alone. Call us today to see how we can help you.
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