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Vick Bankruptcy Plan Offers More to Creditors
Comments 0 | Recommend 0Former Falcon Unveiled Plan Tuesday
Suspended NFL Star Michael Vick would give up more of his future income under a revised bankruptcy plan.
Vick's lawyer, Paul Campsen, disclosed the basic outline of the new plan Tuesday in U.S. Bankrupcy Court in Norfolk. The full plan is still being finished. It's due to be filed by Thursday.
A judge in April rejected the first plan, saying it was not feasible.
Under the new plan, Campsen said 10 percent of the first $750,000 Vick earns would go to creditors. Under the old plan, Vick would have kept the entire amount up to $750,000.
The new plan also increases the amount it would pay creditors on income over $750,000.
Vick is currently in home confinement in Virginia for last two months of a nearly two-year sentence for operating a dogfighting ring.
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