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After proudly reigning the tennis court for long time, he retired in 1982 with $3.6 million in his pocket but soon faced some personal problem including divorce and tax. His first two marriages ended in divorce. In 1991, he paid $40000 to the Swedish tax authority after being threatened by the authority. In 1997, he was to able to avoid personal bankruptcy as a company (which he earlier owned) agreed to pay off debts of more than $1 million to 11 Swedish creditors. In 2004, he dropped an appeal of Swedish taxes.
I am not narrating a made up story this is a true story of a Champ. His name is Bjorn Borg, the famous tennis player.
He made to the recent news as he started selling his trophis and rackets in order to get back his financial strength from the burden of excessive debt. First time in the history we come to know that, a most prestigious and one of the richest tennis player, owner of so many Grand Slam titles has decided and taken such an action. I feel sad about it but that is life.
As per his email statement "...It's not easy to part with the trophies," he said that he need to have some long-term financial security.
I am sure Debt can't be worse than this when you have to pay your success to overcome it.
A place where I can share
- My theories about credit.
- My experiences with debt.
- My day to day fight with debts.
- My budgeting fundas.
- My complains.
I am thinking more about it. I always wanted a place to share these things. I had a discussion with our R&D team and hopefully they will come up with a suited plan.
I will love to have it, read the community response at http://www.debtconsolidationcare.com/forums/mycredit.html .