Ladies and gentlemen, the winner and neeeewwwwwww champion of smelliest and most disgusting thing ever auctioned off because of a bankruptcy: Curt Schilling’s famous bloody sock!
The sock, worn by an injured Schilling during the 2004 World Series while he helped pitch the Red Sox to their first championship in 86 years, is expected to fetch more than $100,000 at an online auction next month.
Schilling, whose failed video game company 38 Studios LLC filed for bankruptcy in June, had said last year that the possibility of selling the sock was a case of “having to pay for your mistakes.” He said he lost all the money he earned as a baseball player.
The funny thing is, the sock being sold is actually only the second-most famous bloody sock Schilling wore that October. The sock Schilling wore while stifling the New York Yankees in Game 6 of that year’s American League Championship Series was reportedly thrown in a trash can of the old Yankee Stadium after the game. The Red Sox won that game to force a Game 7, which they also won en route to banishing the so-called “Curse of the Bambino.”
When sports starts go bankrupt, the stuff they auction off is usually, you know, the usual. Former baseball player Lenny Dykstra, for example, got rid of his World Series ring and other mementos, including the ball he hit to beat the Houston Astros in Game 3 of the 1986 National League Championship Series. Retired Cleveland Browns quarterback Bernie Kosar wasn’t lucky enough to ever earn a World Championship ring, but he did auction off his 2007 Chevy Tahoe.
The closest parallel we can think of at the moment is former Tampa Bay Buccaneers defensive tackle and current NFL Network analyst Warren Sapp, who hasn’t had the best luck auctioning off his house or selling off his 240 pairs of size 15 Nike Air Jordan sneakers.
Martin Luther King, Jr. was a prominent leader of the Civil Rights Movement. He is best known for his role as an activist, organizing many historically significant non-violent protests throughout his career.
At only 34 years old, Martin Luther King Jr. organized the 1963 march on Washington, where he captivated the Country with his “I have a dream” speech.
At age 39, Martin Luther King, Jr. was assassinated. His legacy of hope and inspiration continues today.
In the current economic climate, it is not surprising that many homeowners have fallen behind on their mortgage payments. Whether their financial woes were caused by loss of income or increased expenses or a combination of the two, as a bankruptcy practitioner for over 40 years and a former Chapter 13 Trustee, I have seen and heard it all.
For homeowners with regular income who are behind on their mortgage, Chapter 13 bankruptcy could be a viable option to save their home from foreclosure.
How Chapter 13 works:
The second that a Chapter 13 bankruptcy is filed, something called the automatic stay goes into effect, which stops all creditors from taking any collection action against you. This means that mortgage companies may not go forward with the foreclosure process.
Included in the papers filed with the Bankruptcy Court is something called a Chapter 13 Plan. The Chapter 13 Plan details how the debtor proposes to pay back their debts. For homeowners that are attempting to save their home from foreclosure, their Plan would provide for the repayment of all delinquent mortgage payments over a period of 3 to 5 years. The mortgage company is forced to accept these payments.
So for example, lets say a homeowner has a monthly mortgage payment of $1,000/month, and that he is 4 months behind on his mortgage. In a Chapter 13 Plan, the homeowner would propose to pay the $4,000 delinquency by making monthly payments over a period of 3 to 5 years.
Don’t wait until the last minute! If you have received a notice of intent to foreclose, if you are receiving harassing phone calls from your mortgage company, if you have been served with foreclosure papers, contact a bankruptcy attorney immediately to find out what options you have. David Kasen has over 40 years experience as a bankruptcy practitioner. He has saved thousands of homes from foreclosure. Call Kasen & Kasen now to schedule a FREE INITIAL CONSULTATION (856) 424-4144.