-
NFL Players And Their Credit Card Debts
12
June 6th, 2011Uncategorized
I read through an article which was in Sports Illustrated a while back with some awesome statistics; Within two years, 78% of NFL players are either bankrupt or facing serious monetary trouble. This article points to the reality that the starting salary of even the lowest paid National football league players is $310,000 however in the second year it jumps to $460,000. With this type of income it sets theses NFL players in the top 1% of all of the income brackets in the U.S. So how does it happen?
One of the very first things that most players do right when they sign a great contract is to go out and buy a new house. They typically pay for the whole thing in full. Even if this sounds like an excellent idea. They are basically investing an important amount of their sign on bonus. Most experts of these players recommend that they instead put there homes on a 30 year mortgage as an alternative to purchasing them all at one time. The reason behind this is that unlike the majority of us, NFL players careers are only 3 years long typically. Players will need to make their cash stay longer while they are playing simply because they do not have the typical 30 year career.
If youve watched some episodes of MTVs Cribs you can see how they devote all of their money not only on their home, but at the same time their cars. Everybody understands that a car decreases in value 25% the moment you drive it off of the lot. Consequently it should be no surprise that these players are loosing money on their new cars very swiftly.
This hit home with me individually because my favorite quarter back since I was a young boy was Bernie Kosar. He had to file for bankruptcy protection last year declaring that he owed over 40 million more than he was worth. Loads of this consists of credit card debt. Other NFL star have also filed for bankruptcy protection such as Andre Rison and Lawrence Taylor.
It is certainly not usually the actual players that run up the debt though. The Colts superstar wide receiver Reggie Wayne not too long ago had a mistress named Natasha McKenzie. They had been messing around for a while. Reggies wife discovered about it after catching wind of her running up a $93,000 credit card debt. You would like some debt relief? Check out Indiana debt relief, virginia debt relief and michigan debt relief and know how to eliminate credit card debt. Never give your mistress your credit card number!
Related Reading:
Tags: andre rison, bernie kosar, credit, credit card debts, debt, home, income brackets, national football league, NFL, protection
![Scale mech util 250x1lb each [PRICE is per EACH]](http://ecx.images-amazon.com/images/I/21WievRXtVL._SL75_.jpg "Scale mech util 250x1lb each [PRICE is per EACH]")
12 responses to “NFL Players And Their Credit Card Debts” 
-
Really appreciate you sharing this article.Really looking forward to read more. Really Great.
-
Patrick Jordan January 12th, 2012 at 20:34
I really like and appreciate your article post.Really looking forward to read more. Will read on…
-
Patrick Green January 21st, 2012 at 14:59
Thanks again for the blog article.Much thanks again. Want more.
-
This is one awesome article post.Much thanks again. Much obliged.
-
Diana Harris February 1st, 2012 at 22:50
Looking forward to reading more. Great blog post.Thanks Again. Will read on…
-
Adam Porter February 16th, 2012 at 01:39
I really like and appreciate your blog.Much thanks again. Cool.
Financial Services, Financial, Finances, Organizing Finances, News
- DHS to launch insurance and finance program - Demopolis Times May 18, 2012DHS to launch insurance and finance programDemopolis Times“The Demopolis City School System applied and obtained funding in the Finance Cluster and th […]
- Huakan International Mining Inc. Appoints New Chief Financial Officer - SYS-CON Media (press release) May 18, 2012Huakan International Mining Inc. Appoints New Chief Financial OfficerSYS-CON Media (press release)She was previously Director of Finance for InterWrap […]
- Rockall Technologies Enhances Trade Finance Team - SYS-CON Media (press release) May 18, 2012Rockall Technologies Enhances Trade Finance TeamSYS-CON Media (press release)The company has achieved 100% client retention and reference-ability and […]
- India Revises Budget 2012 Proposals; Clarifies Retrospective Amendments ... - SYS-CON Media (press release) May 17, 2012India Revises Budget 2012 Proposals; Clarifies Retrospective Amendments ...SYS-CON Media (press release)By Business Wire The Indian government has pro […]
- OneWire Shares Insight on Financial Services Career Opportunities to Service ... - SYS-CON Media (press release) May 17, 2012OneWire Shares Insight on Financial Services Career Opportunities to Service ...SYS-CON Media (press release)NEW YORK, NY -- (Marketwire) -- 05/17/12 […]
Carl Fisher October 30th, 2011 at 01:43