Michael Vick ready to wipe out bankruptcy with $20M in debt repayment
http://sports.yahoo.com/blogs/nfl-s...y-off-bankruptcy-20m-debt-161419405--nfl.html
Michael Vick has been synonymous with the word comeback for years. And now he's set to overcome another personal hurdle.
This report out of his home state of Virginia says that Vick is prepared to escape from the throes of bankruptcy and finish paying off his passive debts. That's nearly $20 million worth, owed to dozens of creditors.
Good for Vick. Full repayment of debts — never mind ones this extensive — are actually quite rare. Granted, most debtors don't draw a $7 million salary from the Eagles, nor an endorsement deal from Nike. But still ...
Vick might have seen the abyss years back, embroiled in his dog-fighting scandal, but he largely has climbed his way out of that mess. This is just another noteworthy step. He still has a pending case in the U.S. Bankruptcy Court in Norfolk, but Vick appears to be doing all the right things to appease the court.
It figures to be a rebirth of sorts again for Vick on the field this season, as he tries to put the troublesome past two years of the Andy Reid regime in Philly behind him and refresh himself under new head coach Chip Kelly. Although Vick had to fight for (and win) the quarterback job, he has done so and looked mostly impressive.
Vick has set two difficult-to-achieve goals: paying off his debts and reviving his career. The first one is close to happening, and he'll get every chance under Kelly to make the second come true as well.
http://sports.yahoo.com/blogs/nfl-s...y-off-bankruptcy-20m-debt-161419405--nfl.html
Michael Vick has been synonymous with the word comeback for years. And now he's set to overcome another personal hurdle.
This report out of his home state of Virginia says that Vick is prepared to escape from the throes of bankruptcy and finish paying off his passive debts. That's nearly $20 million worth, owed to dozens of creditors.
Good for Vick. Full repayment of debts — never mind ones this extensive — are actually quite rare. Granted, most debtors don't draw a $7 million salary from the Eagles, nor an endorsement deal from Nike. But still ...
Vick might have seen the abyss years back, embroiled in his dog-fighting scandal, but he largely has climbed his way out of that mess. This is just another noteworthy step. He still has a pending case in the U.S. Bankruptcy Court in Norfolk, but Vick appears to be doing all the right things to appease the court.
It figures to be a rebirth of sorts again for Vick on the field this season, as he tries to put the troublesome past two years of the Andy Reid regime in Philly behind him and refresh himself under new head coach Chip Kelly. Although Vick had to fight for (and win) the quarterback job, he has done so and looked mostly impressive.
Vick has set two difficult-to-achieve goals: paying off his debts and reviving his career. The first one is close to happening, and he'll get every chance under Kelly to make the second come true as well.
