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Michael Vick’s Debts and His Lifestyle Lead Him to Bankruptcy

Michael Vick's Debts and His Lifestyle Lead Him to Bankruptcy

Even well known to have a net worth amount about $15 Million, but Michael Vick is a candidate for bankruptcy. Well I think he is bit hopeless today due Michael Vick was reported has big owe debt to he taxes and IRS nearly $30 million. It means that, Michael Vick  may have spent 95% of his his income from 2008-2012. Those amounts of money were used by Michael Vick to pay creditors, lawyers, accountants taxes, expense and lifestyle. In June 2008, Michael Vick, forced to sell the house and property for $1.39 million to pay his brother who was getting arrested. A month later, it was revealed that Michael Vick has total assets nearly $50million, but he should pay debts between $10million and $50million. Despite that Michael Vick also should pay quite high amount of money since he was arrested due to the scandal of dog fighting that force him to paid another high bid to the court. It also reported that, even Michael Vick was paid quite high and has an amount of money, but he should support  seven friends and relatives, three children, and their mothers by spent $300thousand a month for them. Lucky for Michael Vick that he started to re managed his life an d tries to fix his financial problem. Michael Vick was still haunted with the bankruptcy , and that’s why he should work hard to fix those amounts of debt. Actually Michael Vick is a quite talented athlete that way in 2005 Michael Vick received $ 23,102,750 plus $ 22,500,000 bonus from the Atlanta Falcons.  But since his ability as the quarterback has been getting decreased yet due his lot of legal ad financial problems , in 2009, the Atlanta Falcon trades him to the Philadelphia Eagles for $6.8 million contract. Lucky since joining Philadelphia Eagles, Michael Vick started to behave and re managed his life. That’s why in 2011, the Philadelphia Eagles willing to give $80million contract extension and he get an annual salary about $ 16,900,000.

Grow up in financially depressed and crime-ridden neighborhood make Michael Vick a brat since he was young. Drug dealing, drive-by shootings and other killings are the daily scenery for young Michael Vick. A friend suggests that sport is the only way to make their dreams come true and free him from that chaotic environment. Michael Vick  release that football is his major skills because since age 2 his father already thought him about this kind of sport. Michael Vick spent his time and hone his skill as a footballer by joining local Boys and Girls Club. Michael Vick talent attracted to stealing peoples attention when his collage Virginia Tech win against  James Madison in 1999. In 2001, Michael Vick wrote his name in the 2011 NFL Draft by the Atlanta Falcons. And he made his first debut with the Atlanta Falcons on September 9, 2001 as the quarterback against the San Francisco 49ers.

Michael Vick really learns much from his previous lifestyle and behavior that brought him to bankruptcy. Even his annual salary was nearly $15,5million each year, due the debts that he should play, Michael Vick is only received $277.69 a month.