Wayne Linekar, the brother of football pundit Gary was declared Bankrupt at Kingston upon Thames County Court on the 12th June.

It is possible that Wayne Lineker’s financial wows may be linked to his failed attempt to challenge facebook in the world of on-line social media.

In February this year his website shufflin.com was closed. According to reports more than £900,000 had been invested in the project by 80 of Lineker’s family, friends and other small investors. Wayne Lineker claimed to have personally lost over £790,000 in the project. The company is now being liquidated

Bankruptcy is often the right debt solution

Personal bankruptcies generally only hit the headlines when the individual involved is in the media spotlight for one reason or another. However the Bankruptcy solution is not just for the rich and famous.

James Falla, senior debt expert at Beat My Debt says that the solution should not be considered as just for the rich and famous. “Bankruptcy is often associated with people who have extremely large debts generated because of their business dealings. However bankruptcy should not be overlooked by anyone trying to resolve a debt problem” Falla said.

“The problem is that the word bankruptcy sounds bad and so people all too often discount it even before they have really understood what it means. However for many it can be an ideal way to deal with debts that they have no way of repaying because, due to changes in the bankruptcy rules over the past few years, it will really not affect their day to day lives at all” Falla added.

In Wayne Lineker’s case bankruptcy does not seem to be the end of the line. Today his Twitter page still shows that he is the owner of Linekers bars and partner in Ocean Beach Club Ibiza which opened on the 28th June.