Updated: Sep 5, 2018
A recent study revealed that an average of one in every six NFL football players file for bankruptcy, an article from Ventura County Star reported.
According to the research conducted by the National Bureau of Economic Research, professional football players seek bankruptcy protection less than 12 years after retirement. In the data gathered from 1996 and 2003 about drafted NFL players, researchers found out that an estimated 16 percent of athletes file for bankruptcy regardless of the money they make while in the league.
Researchers observed that NFL athletes find it difficult to understand that their career is temporary and that many of them do not plan for their future after they retire from the league.
If you are experiencing trouble with your finances, enlisting a skilled lawyer is worth considering, especially if you may file for bankruptcy. Find out how the Birmingham attorneys at the Greenway Bankruptcy Law, LLC may work on your behalf today by calling (205) 324-4000.