Two NFL Quarterbacks Facing Bankruptcy

Two NFL quarterbacks find themselves taking steps towards bankruptcy this month, despite their reported wealth.

Charlie Batch, a veteran of the Pittsburgh Steelers, obtained the clearance he needed this week to sell of his properties. This will allow him to satisfy some of his debts listed in his chapter 7 bankruptcy. The 27 properties held by the Batch Development Co. will be given to a court-appointed receiver. According to local papers, the Batch Development Co. most recently defaulted on a $1.15 million loan with Dollar Bank.

The second player, Mark Brunell of New York Jets fame, has just sent his repayment plan to the creditors for approval. Although the plan did receive preliminary clearance from a bankruptcy judge, it must also be reviewed by the creditors before being officially approved. Brunell filed for chapter 11 bankruptcy in June 2010, listing assets of $5.5 million and debts of $24.7 million.

If you are thinking about filing for bankruptcy in Texas, contact us to discuss possible options with a San Antonio bankruptcy attorney today.