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Michael Vick Bankruptcy Judge Wants New Plan by July

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By Javier Lavagnino, Esq. on June 09, 2009 2:03 PM

Now that former NFL star Michael Vick has been released from prison, and is under home confinement, the time may have come for him to get his financial affairs in order. A key part of this would conceivably be getting his ongoing bankruptcy case taken care of, and getting back on the field probably wouldn't hurt either. One might not happen without the other though, as the AP reports that a judge has set a deadline of July 2 for Vick to come up with a new plan.

Apparently the previous plan wasn't up to snuff, which might not be too surprising as it apparently would have let Vick keep some of his vehicles and a couple of "expensive homes". The plan reportedly was also problematic since it counted on Vick returning to the NFL. However, as previously suggested, his return faces a number of hurdles, the first being NFL Commissioner Roger Goodell's decision on whether Vick should even be given a chance or not, followed by whether any team will take a shot at signing Michael Vick and his potential accompanying baggage.

A bankruptcy plan that counts on a theoretical future NFL salary (particularly if it's a substantial salary) might understandably be viewed askance by a bankruptcy judge, not to mention Vick's past creditors.

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