Jets' Michael Vick close to paying off $18M debt
After filing for Chapter 11 bankruptcy in July 2008, New York Jets quarterback Michael Vick is close to paying off $18 million in debt.
Vick was released from prison on July 20, 2009 after serving 548 days for his role in a dog-fighting venture.
Since his release, Vick has played six seasons in the NFL with the Philadelphia Eagles and New York Jets.
Vick chose to file for Chapter 11 bankruptcy as opposed to Chapter 7. The latter would have allowed for most of his debts to be forgiven.
"I didn't want to stiff people who never stiffed me," Vick said to ESPN's Darren Rovell.
Vick has paid more than $15 million – close to 85 percent – of his outstanding debt and is living off a budget of $300,000.
"I feel blessed because I came out and found myself in a position where I had a lot of people that really believed in me, people who gave me an opportunity," Vick said.
"At the time, it wasn't about trying to fulfill all the bankruptcy needs. I was trying to fulfill all the needs that I had in my life because I had nothing."
Vick said he'd no longer live an extravagant lifestyle but would indulge on cars once he's debt-free.