NFL STAR VINCE YOUNG FILES FOR BANKRUPTCY
It seems impausible that someone making over 26 million dollars a year could end up filing for bankruptcy just a few years later. Throughout his career, Young played football for teams such as the Eagles, Bills, Packers and Titans. Young is best known for his role as quarterback for the Tennessee Titans from 2006 to 2010. Young is looking for another team and he was signed with the Bills and Packers last season only to be released.
Young filed bankruptcy on January 17, 2014 to forestall a $1.8 million ($2.5 million) judgment collection from loan made in 2011 from Pro Player Funding. Young claims that his former financial adviser, Ronnie People and his former agent, Major Adams II conspired to obtain the loan without his knowledge or permission and kept the money for themselves. After the petition was filed, the litigation surrounding the loan was settled and he claims that now that this has been resolved, he will not longer need bankruptcy relief.
One thing is certain, if Young would like to avoid financial problems in the future, he will need to change his spending. Witnesses have seen Young spend $5K a week on food from the cheesecake factory and buying out entire flights on commercial airlines. Good luck Vince Young!
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