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QBREES9

10-03-2012 06:49 PM

Mike Vick 29 Million Gone 29 million

Report: Michael Vick has gone through $29 million since 2008 | Shutdown Corner - Yahoo! Sports

dizzle88

10-04-2012 03:40 AM

Re: Mike Vick 29 Million Gone 29 million

I bet 10 million was legal charges, hiring lawyers etc

SloMotion

10-04-2012 06:10 AM

Re: Mike Vick 29 Million Gone 29 million

Quote:

According to TMZ, Vick has banked $31 million since he filed for bankruptcy in 2008, and has spent nearly all of that ... All of which leaves Vick with about $1.5 million currently, which isn't bad for a guy who's bankrupt ... He can make substantially more than that if he stays with the Eagles past this year, but there's no guarantee that will happen ... But again, $35.5 million is guaranteed to be coming his way, no matter how poorly he plays.

How is a guy with $1.5 million on hand and $35.5 million guaranteed allowed to declare bankruptcy? "The math is pretty simple -- Vick had to pay a total of $29.6 mil -- of that, $10.9 went to taxes, $9.2 mil went to creditors, $2.7 went to lawyers and accountants, and the rest is for various things, including child support and living expenses."

I'm sorry, but you can still live pretty well on $1.5 million with $35 million guaranteed in today's economy.

SaintsBro

10-04-2012 06:45 AM

Re: Mike Vick 29 Million Gone 29 million

Valtrex is expensive, I guess.

OldMaid

10-04-2012 07:38 AM

Re: Mike Vick 29 Million Gone 29 million

One, I do not like him. Two, I do not see how the NFL, why, took him back. Next, he is , has ben paid an obscene , crazy, multimillions x 10, amount of pay and I really don't think he is that good.
Losing money...not knowing how to handle that kind of money, it is all really sad.
He is still due 35.5 mill , it will be interesting to see what will be left after that.

QBREES9

10-04-2012 10:34 PM

Re: Mike Vick 29 Million Gone 29 million

Just plain crazy

Tobias-Reiper

10-04-2012 10:50 PM

Re: Mike Vick 29 Million Gone 29 million

Quote:

Originally Posted by SloMotion (Post 446288)

There are different levels of bankruptcy. Vick could've filed for Chapter 13, which is basically a court supervised payment plan that allows you to protect valuable assets, like real estate.

SloMotion

10-05-2012 04:56 AM

Re: Mike Vick 29 Million Gone 29 million

Quote:

Originally Posted by Tobias-Reiper (Post 446524)

There are different levels of bankruptcy. Vick could've filed for Chapter 13, which is basically a court supervised payment plan that allows you to protect valuable assets, like real estate.

He filed for Chapter 11 and has been living on some sort of debt-reorganization plan that allows him $300,000.00 a year for living expenses since getting out of prison.

What a mess.

Trustee in Michael Vick Chapter 11 Case Files Adversary Proceeding - National Bankruptcy Forum

Srgt. Hulka

10-08-2012 09:57 PM

Re: Mike Vick 29 Million Gone 29 million

And he'll be the first to sue the NFL for something when all his money is gone.

Mardigras9

10-09-2012 10:39 AM

Re: Mike Vick 29 Million Gone 29 million

To many shots to the head.

Utah_Saint

10-09-2012 12:30 PM

Re: Mike Vick 29 Million Gone 29 million

Quote:

Originally Posted by Mardigras9 (Post 447871)

To many shots to the head.

When the base line is runnng an interstate dog fighting and gambling ring on your own property, it' gonna be tough for him to prove brain damage made any real difference in his life.

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