Despite success on field, Michael Vick still faces massive debt

[big dog cowboy]

Despite success on field, Michael Vick still faces massive debt
By Chris Chase

Michael Vick paid his debt to society. Now he's trying to pay back his massive debt to creditors.

Despite earning $4.1 million since signing with the Philadelphia Eagles, Vick lives on a shoestring budget set for him by a court-appointed trustee. Most of his salary goes toward paying back creditors Vick owed before entering federal prison. Those creditors, which include banks, former business colleagues and former endorsement partners, were protected because of Vick's 2008 filing for Chapter 11 bankruptcy.

A 112-page, court-approved document serves as Vick's "reorganization plan." It was uncovered by ESPN legal analyst Lester Munson.

Among the facts Munson discovered in the plan:

• Two-thirds of every dollar Vick earns goes to creditors and taxes.

• The rest of the money is strictly controlled. Think of it as an allowance.

• Vick can spend $4,250 per month on rent and utilities and $472 per month on a car. His mother, who was on Vick's payroll during his headier, pre-prison days, can receive $2,500 per month.

Read more: http://sports.yahoo.com/nfl/blog/sh...n-field-Michael-Vick-still-fac?urn=nfl-291781

 

[JohnnyTheFox]

Cue the violin concerto.....................

 

[Yeagermeister]

My heart is breaking

 

[bmzt31]

oh wat a shame im crying ovr here

 

[JPM]

I feel really bad....




























for all the dogs he killed.

 

[basstapp]

The guy has completely changed his life around and people are still down his throat. Vick has not complained once about the money he has to send away its all the media bringing it into the light. He is a phenomenal athlete and has been really amazing for the Eagles. He has my respect for his new life.

 

[the kid 05]

The guy has completely changed his life around and people are still down his throat. Vick has not complained once about the money he has to send away its all the media bringing it into the light. He is a phenomenal athlete and has been really amazing for the Eagles. He has my respect for his new life.

He'll always be haunted by his past and rightfully so

 

[stilltheguru]

He'll always be haunted by his past and rightfully so

Should everybody else be haunted by their past when they kill..... you know, actual people? smh. Of course not. Vick threads show what pathetic people we have in this world.

 

[Bonecrusher#31]

He won't be in the red for much longer

 

[Tusan_Homichi]

He won't be in the red for much longer

No he won't. If he plays like this the rest of the year, he's going to receive a MASSIVE contract extension.

 

[rkell87]

Should everybody else be haunted by their past when they kill..... you know, actual people? smh. Of course not. Vick threads show what pathetic people we have in this world.

*shows you mirror*

 

[DallasGirl50]

I can't stand Michael Vick. I still have a hard time believing anybody would defend that man. Dungy included.

 

[Mansta54]

Should everybody else be haunted by their past when they kill..... you know, actual people? smh. Of course not. Vick threads show what pathetic people we have in this world.

Well said!!!

 

[SaltwaterServr]

*shows you mirror*

 

[YosemiteSam]

It's a shame he can spend anything on a car. A public bus seems like it should be up his ally.

 

[YosemiteSam]

Should everybody else be haunted by their past when they kill..... you know, actual people? smh. Of course not. Vick threads show what pathetic people we have in this world.

You're damn right they should. You reap what you sow!

He deserves it and you deserve it for feeling otherwise.

 

[Hostile]

Should everybody else be haunted by their past when they kill..... you know, actual people? smh. Of course not. Vick threads show what pathetic people we have in this world.

You know, I have never seen anyone on this forum defend killing people. Yet Vick fans bring it up every time like someone out there doesn't get that killing humans is worse than killing dogs.

Duh!

How about the Vick fans just acknowledge that killing dogs was vile? Nope, that's too hard.

 

[Funxva]

I personally want to believe in second chances. I have a family member who almost went to jail for fighting dogs. He was from the south, where this is a big thing apparently.

Did he pay his debt, yes. Killing humans is obviously a hell of a lot worse than dog fighting, but that is also a horrible and disgusting practice.

My family member turned it around after that, and was able to break out of that culture. I hope Vick has as well.

 

[vta]

Should everybody else be haunted by their past when they kill..... you know, actual people? smh. Of course not.

That's an odd-ball statement. You imply there are worse things than what Vick did - as in murdering people - yet then say, of course not that they shouldn't be haunted by killing people. Did you mistype something here?

 

[Rynie]

The guy has completely changed his life around and people are still down his throat. Vick has not complained once about the money he has to send away its all the media bringing it into the light. He is a phenomenal athlete and has been really amazing for the Eagles. He has my respect for his new life.

so you're defending a guy that knowingly gave a girl herpes? Nice.