Charlie Taylor, a Burnley defender, has been declared bankrupt because of unpaid bills.
The 30-year-old left-back, who makes roughly £30,000 per week at Turf Moor, is said to have been handed a bankruptcy order last year and is currently getting it annulled.
Taylor declined to comment, however has learned that the missed payments were due to an administrative error, not major financial concerns or a purposeful attempt to avoid paying.
The debt has since been settled, and an application has been filed with the High Court to annul the bankruptcy, which is on its way to being approved.
The PFA is working to address the issue by offering financial education courses as part of their LifeSkills programme, which is open to all workers under the age of 21.
The union also refers athletes to independent financial advisors if they run into trouble.
Taylor’s bankruptcy does not appear to have hampered his form, as he has established himself as a regular starter in Vincent Kompany’s side since their return to the Premier League.
The former Leeds defender struggled for playing time last season as Kompany chose to start Chelsea loanee Ian Maatsen at left-back, but he has re-established himself this season, making 17 appearances, the majority of which have come from the start.
Last summer, Leeds attempted to re-sign Taylor, but Burnley refused, preferring to grant him a new contract.
His current contract expires at the end of the season, and negotiations with the club are scheduled to take place at the end of the transfer window.
