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NORCROSS, GA, April 11, 2013 /24-7PressRelease/ -- The Tampa bankruptcy lawyers, Clark & Washington, would like to discuss football legend Warren Sapp's recent bankruptcy filing. It is very common for celebrities, especially professional athletes, to find themselves in financial straits. Although they make a lot of money (Sapp had a reported net worth of $82 million), they often the lack the economic know-how to effectively manage their income. Unlike their fellow wealthy patrons, athletes are often thrust into the world of the rich and the famous after coming from working and middle class backgrounds. The bankruptcy attorneys in Tampa note that the paychecks go to their heads, and that is exactly what happened with Sapp. From his $4 million mansion to the hundreds of shoes he adorned his master suite with; it didn't take long for the all-star athlete to bite off more than he could chew. According to the Tampa bankruptcy attorneys, Sapp owed $6.7 million in liabilities with $6.4 million in total assets, a reality that compelled him to call it quits. The big ticket items that forced Sapp to file bankruptcy were the alimony payments he was court-ordered to his former wife that he has 4 children with, as well as a poorly thought out housing development investment.
The Tampa Bankruptcy Lawyers Note the Importance of Financial Management
According to the Tampa bankruptcy lawyers, if anything can be learned from Sapp's case, it is that money can be dispelled as quickly as it can be earned. Although the vast majority of us will never see a fraction of the funds that Sapp was playing with, his circumstances should serve as a lesson to everyone that financial management is critical. Every dollar counts in this economy.
Clark & Washington are a premier Tampa bankruptcy law firm. To see how they can assist you, please visit http://www.cw13fl.com.
About Clark & Washington:
Established in 1983, Clark & Washington is now one of the leading bankruptcy filers in the Southeast. They have locations in Georgia, Florida and Tennessee. Clark & Washington specializes in personal chapter seven and 13 bankruptcy. They offer honest, helpful legal advice to those experiencing financial hardships.
For more information, visit http://www.cw13fl.com.
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