When we first started this website we had several goals to seek justice, which was being abused and to prevent Michael Vick from harming the fans that had supported his rise to financial success.  We are all for Michael Vick finding success in life after prison, but still do not want to see him return to the NFL where he maligned almost every trust that was bestowed on him by fans, his team, his coaches, the NFL, his business partners, his creditors, his sponsors, and even his criminal buddies. 

He’s trying to have $20+ million in debt renegotiated while he holds on to $16 million in assets.  But this is based on him earning 12 cents an hour in prison.  We could see a scenario where his debt is wiped away by the courts down to say $10 million and he could keep his $16 million in assets.  Then a few months later he could return to the NFL and a large contract (not as large as before, but after profiting $10 million in bankruptcy, it doesn’t have to be too big for Vick to still have a great year financially.

A committee of creditors, including the Atlanta Falcons, filed the objection Tuesday in U.S. Bankruptcy Court in Newport News, Va. A hearing on whether the disclosure statement should be approved is scheduled for next Tuesday.

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A disclosure statement submitted in the case last month listed real estate holdings, luxury cars and boats, business interests, bank accounts and expenses to support a large extended family.

Plus it would appear that Vick or his accountants were either not that good at book keeping (not surprising considering all the illegal activities Vick was involved in, some of which he pled guilty in court) or possibly they are trying to hide cash and assets and cover the expenses for lots and lots of relatives before Vick’s creditors are paid off.

If you or I file for bankruptcy, odds are the bank and courts are not going to look to favorably on the scheme of us trying to support all of our extended family first before paying off any debt.  Our relatives will have to go out, get jobs, fend for themselves, and pay their own bills.

It also showed millions in unexplained cash withdrawals and transfers over the last two years. For example, the creditors said in their objection that Vick’s papers list about $1.1 million in transfers authorized by a former associate, about $1 million marked as "cash out miscellaneous" and nearly $2.3 million in transfers between Vick accounts.

"With such large sums of the Debtor’s money unaccounted for, it would be impossible for the Debtor’s disclosure statement to contain ‘adequate information’ regarding his finances," the creditors wrote.

Vick’s disclosure statement also says he "has every reason to believe that upon his release, he will be reinstated into the NFL, resume his career and be able to earn a substantial living." Vick’s plan for paying his debts is premised on his return to pro football, but the creditors say they need more assurance.

source -  The Associated Press: Creditors object to Vick finance statement

Bottom line, if Vick returns to the NFL as a quarter back, it will be a travesty.  Returning as a coach or maybe a counselor for the other derelict players in the NFL might not be a bad gig for Vick.  Heck he could go into acting or anything for all I care, but let it be a fresh start.