On This Edition of “Smart Money”….Deuce McAllister
It really pains me to see professional athletes go down because of money. It boggles my mind that middle-class workers (like myself) and even the low-class can go through life without having to break down and sell pretty much everything to pay the bills. The level of financial intelligence amongst pro athletes is frighteningly low.
Deuce McAllister as well as other athletes such as Scottie Pippen and Mike Tyson have fell victim to the “smart investment” ploy often cast by preying crooks. It’s sad to see.
Now, after already filing for Chapter 11 bankruptcy protection for his Nissan dealership in Jackson, Mississippi, McAllister’s Louisiana home has been seized and is set to be auctioned on July 27th.
Apparently, McAllister owes about $1.8 million on the mortgage and Whitney National Bank, where the loan was set up, has had enough and are suing the former Saints running back.
You know the old saying: “Another day older and deeper in debt.”