Michael Vick -- Bankruptcy Destroyer

Michael Vick is conquering his economic demons with a VENGEANCE -- tackling creditors in his bankruptcy case left and right ... and TMZ has learned, he's just a paycheck away from total financial freedom.

You'll recall ... Vick filed for Chapter 11 bankruptcy in July 2008 after the infamous dog-fighting scandal -- when he lost his NFL salary and several lucrative endorsement deals. According to court docs, Vick owed approximately $20 MILLION to dozens of creditors.

But Vick's been busting his ass to pay off his debts ever since he was reinstated with the Eagles in 2009 -- in fact, according to a new filing in his bankruptcy case, he's already reduced his outstanding debt to less than $400,000.

According to the docs, the outstanding debt is owed to Bank of America (related to one of his properties), BMW financial services, and his friendly neighborhood tax collector.