: The recession is real y’all. MediaTakeOut.com just caught wind that former New Orleans Saints running back Deuce McAllister has filed for bankruptcy protection for a car dealership he owns in Mississippi.
The popular running back is reportedly in a legal battle Nissan – who claims that Deuce owes more than $6.6 million and nearly $300,000 in interest. MediaTakeOut.com received word that Deuce is claiming that he filed for bankruptcy to protect his inventory and is searching for an investor.
Anyone got a few million dollars looking to invest in a business …. Holla at ya boy????
That sucks for Deuce. He is really the heart of the Saints, on and off the field.
And FYI, even with two busted knees, Deuce STILL ran through holes better than Bush aka the overrated/overpaid punt returner.
I wish the best for Deuce. DUUUUUEEEEEECCCCCCCC CEEEEE!!!!!! ------------------------ Oh, and here's another fact. Rich people file bankruptcy and keep all their sh*t while poor people just get repo-ed. Act like yall know the difference b4 yall start clowning the guy. SMH
It's just for protection. Filing Chapter 11 doesn't mean you're broke nor does it mean that the bank can auction off your assests. It protects you from such things, but there's also a down side. The debtor in possession also has many of the other powers and duties of a trustee, including the right, with the court's approval, to employ attorneys, accountants, appraisers, auctioneers, or other professional persons to assist the debtor during its bankruptcy case. Other responsibilities include filing tax returns and reports which are either necessary or ordered by the court after confirmation, such as a final accounting.
YALL MTO FOLKS ARE SO IGNORANT!!!!
FILING FOR BANKRUPTCY PROTECTION FOR A BUSINESS DOES NOT MEAN YOUR PERSONAL FINANCES ARE LIMITED. IT IS DONE TO PROTECT THE BUSINESSES ASSETS.
DONALD TRUMP HAD NUMEROUS BUSINESSES THAT FILED FOR BANKRUPTCY BUT HE IS STILL RICH.
SO DOING THIS DOES NOT MAKE HIM BROKE. NOR DOES THAT MEAN HE DIDNT MAKE A SOUND INVESTMENT. ALL BUSINESSES HAVE UPS AND DOWN.
BANKRUPTCY PROTECTION IS JUST WHAT IS SAYS, PROTECTION!!!!!
AND IT DOES NOT MEAN HE LIVED ABOVE HIS MEANS.
HIS PERSONAL FINANCES AND HIS BUSINESS FINANCES ARE ALWAYS A SEPARATE ENTITY IN BANKRUPTCY LAW.
OBVIOUSLY HIS PERSONAL FINANCES ARE PROTECTED.
I GUESS MANY OF YOU GUYS ARE JUST AS IGNORANT AS MTO'S WRITERS.
THIS RECESSION IS NO JOKE, I WAS READING ON ANOTHER BLOG THAT A RUSSIAN M.P HAS PREDICTED AMERICA WILL CRASH NEXT YEAR,WELL THEY GOT UNTIL 1 2012 WHEN THE WORLD ECONOMY WILL COLLAPSE COMPLETELY HE HAS PREDICTED THAT CHINA AND ASIA WILL HAVE WORLD DOMINANCE AND THAT CHINA AND ASIA ARE THINKING OF MAKING THEIR OWN CURRENCY.
SYL spelled it out for you, and you people still have problems understanding that Duece was not living beyond his means! Get a clue people, and read the real news and stay out of Chris and Rhianna's business. In this recession, auto sales have declined by 41%. This means if Duece's dealership isn't moving any vehicles, his overhead is being affected. And I seriously doubt that he is using his football earnings to support the business. Would you?? NOT. You keep your business finances and personal finances separate. Learn a little about business and bankruptcy protection before commenting children.
