Barry Ferguson bankrupt.

[Frank Reynolds 3,359]

1 minute ago, Bluepeter9 said:

Jesus fuck - that's what passes as support these days - an ex captain getting called a cunt! 

We have had some absolute arseholes play for us...

[K.A.I 36,183]

Just now, tannerall said:

Not justifying anything right or wrong about it. Just saying the outgoings were huge at that level, That's £400k a year for 10 years say = £4 million. The figures are just a random guess from me to show what comes in often goes out. So many lottery winners make the same mistake. You cold probably live just about on 10k income a year, you'd spend 10k. But if you go to 100k you tend to spend a lot more, and once you're on 100k you'll throw more away and so on and so on. Easy for it to spiral out of control in what us effectively a short career. No excuse for it though if yoy have good financial advice and keep your head screwed on.

 

 

Again maybe I'm being way too simplistic but I don't think it's unreasonable to assume ferguson made 10 million in his career if it were me I'd be thinking that's 400k a year interest to live on but I suppose if it's true they've a portfolio of 40-50 properties all the capital and interest is tied up in the properties maybe 

[WATP-FOREVER 5,231]

15 minutes ago, Bluepeter9 said:

So many people on this thread assuming bankruptcy is some sort of dodgy debt avoiding scheme - ffs you'd think that with all the finance expertise we got during the last 5 years folk would know bankruptcy can happen to the best through no real fault if there own. 

Sure.

Or it can happen if you're an idiot - fool me once nonsense,

Or a sleekit idiot too.

But in general footballers make poor businessmen.

But don't blame the guys on here - some are reasonable/successful businessmen, but poor footballers.

[Bluepeter9 5,167]

3 minutes ago, BluesClues said:

We have had some absolute arseholes play for us...

...  and you'd call them cunts? 

... we all do asshole things - but anyone that's played for us has lived my dream and deserves some respect for that ( imho) but it seems we like to stab most of our ex players in the back ( fuck - and even some still playing for us) 

[Bluepeter9 5,167]

Just now, WATP-FOREVER said:

Sure.

Or it can happen if you're an idiot - fool me once nonsense,

Or a sleekit idiot too.

But in general footballers make poor businessmen.

.. and poor businessmen go bankrupt - so what's your point? 

[WATP-FOREVER 5,231]

7 minutes ago, Bluepeter9 said:

.. and poor businessmen go bankrupt - so what's your point? 

You have trouble reading, words.

BF had every conceivable support, business wise.

He may well be a novice, but it is inexcusable.

[gsa 3,906]

10 hours ago, K.A.I said:

I don't really know the process but if you've assets or money tied up, can the creditors not put a claim on them, liquidate whatever stock you've got and get paid that way? I'd have thought just saying nah my cash is tied up and I've only got assets not cash wouldn't cut it

Any assets you have can be "arrested" and land or property subject to "inhibition". The only way assets are untouchable are if they're entirely concealed or if they are transferred to someone else prior to proceedings beginning. 

[cushynumber 25,178]

1 hour ago, gsa said:

Any assets you have can be "arrested" and land or property subject to "inhibition". The only way assets are untouchable are if they're entirely concealed or if they are transferred to someone else prior to proceedings beginning. 

Or you can show you require them to make a living.  I.e.  a car is required to get you to work.

[Vanoli 4,625]

Bastard. I've just been punted from a call centre selling protected trust deeds. If only i got Barry on the phone i might have saved my job...

[Frank Reynolds 3,359]

1 hour ago, Bluepeter9 said:

...  and you'd call them cunts? 

... we all do asshole things - but anyone that's played for us has lived my dream and deserves some respect for that ( imho) but it seems we like to stab most of our ex players in the back ( fuck - and even some still playing for us) 

I'd call a spade a spade.

Terry Butcher is a prime example of an ex-captain, not just an ex-player, that I have absolutely no time for.

[Muz333 359]

2 hours ago, JockyWilsonspants said:

I dont know if its relevant but some documentary years back mentioned how often this happens to US sports stars(this was before the really funny money in football). I think they said its often mortgage related issues that get these people bankrupt. They get a mortgage on some huge fuck off sized 24 bedroomed mansion but cant keep the payments up once they retire. No idea how accurate this is though.

I think that's probably the whole Property Tax thing they have there. So even after paying the mortgage off you have to pay a recurring tax fee based on the value of the property.

I might be talking shite as I'm typing this from the pub with no facts behind me but I'm sure that's a thing.

[rangerslion 147]

I don't know how some people can call Barry Ferguson a cunt. To me it's some attention seeking issues, because he's one of the best Scottish players ever produced. 

[gsa 3,906]

1 hour ago, cushynumber said:

Or you can show you require them to make a living.  I.e.  a car is required to get you to work.

Up to a certain value usually £3k. A car is may be required but a luxury car isn't,

[gazza27 15,281]

53 minutes ago, BluesClues said:

I'd call a spade a spade.

Terry Butcher is a prime example of an ex-captain, not just an ex-player, that I have absolutely no time for.

An absolute prick he is

[WeirFleckNRothen 1,789]

3 hours ago, Bluepeter9 said:

What? There are many reasons one can find themselves bankrupt without it being a tax demand - many business people get  into difficulties that they don't foresee ( ask SDM) - there is nothing 'immoral' about going bankrupt and in most cases nothing fraudulent nor even 'dodgy' about it. It happens to many businesses and individuals, every day. 

An article posted somewhere in this topic referred to Ferguson being hit with a £1.4M tax bill. That's where.

I'm well aware of the bankruptcy procedure; both a previous employer and my football club went through it. My comments were in reference to wealthy people - let's use 50 Cent as a random example, given that he previously filed for bankruptcy. Transfer all your assets over to a relative and declare bankruptcy. You're liable to the charges (Tax, outstanding invoices, whatever, etc.), but you have "nothing". Immoral, but sensible.

Fucking idiot.

[siddiqi_drinker 14,635]

4 hours ago, Bluepeter9 said:

Not every advisor is competent either - he maybe invested in RBS shares! 

Or Bernie madoff

[siddiqi_drinker 14,635]

7 hours ago, AlCapone said:

She's not even bright enough to file her nails

Aye but she's from a taig family, bright the right way as my mother used to say.  Properties in the kids names I'd isummize

[Bluepeter9 5,167]

7 hours ago, BluesClues said:

I'd call a spade a spade.

Terry Butcher is a prime example of an ex-captain, not just an ex-player, that I have absolutely no time for.

... and yet you managed to avoid calling him a cunt - I must admit I don't really understand the attitude of turning on ex players just based on them giving their opinions, even if negative, I prefer remembering them for what they done on the park while here 

[Bluepeter9 5,167]

6 hours ago, WeirFleckNRothen said:

An article posted somewhere in this topic referred to Ferguson being hit with a £1.4M tax bill. That's where.

I'm well aware of the bankruptcy procedure; both a previous employer and my football club went through it. My comments were in reference to wealthy people - let's use 50 Cent as a random example, given that he previously filed for bankruptcy. Transfer all your assets over to a relative and declare bankruptcy. You're liable to the charges (Tax, outstanding invoices, whatever, etc.), but you have "nothing". Immoral, but sensible.

Fucking idiot.

lol American bankruptcy law is completely different from uk - but you'd know that as an expert. Oh wait.,.. 

[KeyserSoze 14,521]

6 hours ago, WeirFleckNRothen said:

 

I'm well aware of the bankruptcy procedure; both a previous employer and my football club went through it. My comments were in reference to wealthy people - let's use 50 Cent as a random example, given that he previously filed for bankruptcy. Transfer all your assets over to a relative and declare bankruptcy. You're liable to the charges (Tax, outstanding invoices, whatever, etc.), but you have "nothing". Immoral, but sensible.

Fucking idiot.

Em you are not well aware at all are you?

and your club went bankrupt? Who do you support?

if you think you can just transfer assets over to family and minimise your liabilities you are naive at best. 

They search the land register for property going back 5 yrs   It can be sized as can anything else they deem valuable to help pay the debt. They have very sound procedures and law to ensure nothing is hidden 

[SeparateEntityMyArse 53,626]

Wouldn't wish it on him but I have no sympathy either.

Some of the schemes these guys use to protect their millions from the tax you and I pay have backfired big time. Karma if you ask me.

I very much doubt BF will be selling the big issue any time soon. Not when he can stay in one of his wife's recently acquired portfolio of properties.

It's a stigma, that's all, notjing like the wee man who finds homsrlf on the bones of his arse.

Painfully for him it now puts him in the intelligence / business acumen bracket as Sutton. Embarrassing.

[OneDavidCooper 2,505]

10 hours ago, Bluepeter9 said:

Many go bankrupt - it's no big deal 

It fucking is to those fuckers who are owed money and don't ever receive it. Prick

[MDYT2 96]

On 22 July 2017 at 10:09 PM, NeoGeo7 said:

 

Are you a professional face painter mate ?

[mabawsa 888]

11 hours ago, tannerall said:

Not justifying anything right or wrong about it. Just saying the outgoings were huge at that level, That's £400k a year for 10 years say = £4 million. The figures are just a random guess from me to show what comes in often goes out. So many lottery winners make the same mistake. You cold probably live just about on 10k income a year, you'd spend 10k. But if you go to 100k you tend to spend a lot more, and once you're on 100k you'll throw more away and so on and so on. Easy for it to spiral out of control in what us effectively a short career. No excuse for it though if yoy have good financial advice and keep your head screwed on.

 

 

The more you have the more you tend to spend. You spend what you have or even more if you include the never ever. 

[Shuggy 1,308]

If I was on their wages, I would probably baulk at shelling out hundreds of thousands in tax each year. EBTs and dodgy film companies may be a temptation to great to resist.

From the other side of the fence on my much smaller salary, I have no sympathy at all if he was trying to avoid paying any tax at all.

Still think BF has been busy shifting his assets around in case the big tax case went the wrong way.