Michael Vick Sued For Not Paying Car Loans, Bank Repossesses Cars

Oh, Michael. What have you done now? An Indiana bank is suing Mr. Vick for not paying loans related to a car rental business:

Vick signed loan agreements as the CFO of Divine Seven, which bought at least 130 vehicles, including many Kia Spectra and Ford Taurus cars, through 1st Source Bank loans, according to documents filed in U.S. District Court in South Bend on Wednesday.

A phone call Friday to a number listed on loan documents for Divine Seven was answered by a clerk at a Payless Car Rental office in Atlanta. The Associated Press left a message there for Art Washington, who signed some of the loan documents as Divine Seven’s CEO.

According to the lawsuit, 1st Source Bank made a written demand for payment on Aug. 24, but Vick and Divine Seven have “failed and refused to pay.”

Wait, Art Washington? Is that like Ron Mexico? Or that an actual person? Oh well. We don’t really care. According to the lawsuit, Vick owes $2 millionish for the cars. To make matters worse according to the Atlanta Journal-Constitution, a Canadian bank has sued Vick in federal court in Virginia claiming he defaulted on a $2.5 million line of credit he took out to use to invest in real estate.

Bad consumer.

Indiana bank sues Vick over unpaid car loans
[USAToday]
1st Source sues scandal-bitten NFL player Vick [Sound Bend Tribune]

Comments

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  1. timmus says:

    Who is Michael Vick?

  2. MadMolecule says:

    This has been a bad year for us Falcons fans.

    Oh, wait. Every year is a bad year for Falcons fans.

    • Anonymous says:

      @MadMolecule: What are you saying, Matt Ryan is dong awesome. Now that the line is starting to block for him.

      The first few games they just stood aside and let him get ran over.

      Next year will be even better.

      // As far as Vick, he is a slug.

  3. Meg Marco says:

    @timmus: He’s the president of the ASPCA.

  4. Alvis says:

    @timmus: He plays American Football (not to be confused with real football)

  5. McWatt says:

    maybe they were using all those cars for underground smash-up derbies. they are probably buried in the woods behind some house he owns.

  6. Crazytree says:

    these are your heroes, America.

  7. Anonymous says:

    Thats racist!

  8. Trai_Dep says:

    He called his car company Divine Seven? As in a double-entendre for Christlikliness? I’m struggling to recall the parts of the New Testy where the C-man electrocutes, drowns, and shoots in the head any of his flock that doesn’t toe the line. Although, not at once, since that’d be – y’know – unChristian.

    If God named his kid Robert, would we all be saying, “unBobian”?

    And, BOY, if you don’t pay attention to the fine print on loan documents, they really bite back.

  9. ceejeemcbeegee is not here says:

    When it rains, it pours.

  10. catnapped says:

    @trai_dep: Those are part of the “New Improved Testament”…same principles the US government subscribes to

  11. Mojosan says:

    It’s a legal move to put the bank in a stronger position should Vick file bankruptcy.

    By “calling” the loan they can say he had defaulted on it prior to filing for bankrupcy and they will be at the head of the line to collect.

  12. DarthSensei says:

    I hope they fry his ass.

  13. covaro says:

    A fool and his money… just goes to show you someone with a specialized talent like an athlete isn’t always capable of coping with all the things that go on in the real world. You know, those little things everyone else has to deal with like budgeting, paying bills and the like.

  14. $2 million worth of Ford Tauruses and Kia Spectras? Not exactly big-ticket cars, are they? It’s too bad that he’s defaulted on this loan; my neighbor Trevor has an ’88 Volvo 740 wagon that he’s looking to get rid of…

  15. Buran says:

    Who the hell needs 130 cars?

  16. lestat730 says:

    @Crazytree: he sure as hell isn’t my hero. I could give a damn about football or any other professional sports for that matter :)

  17. econobiker says:

    “130 vehicles, including many Kia Spectra and Ford Taurus cars,”

    The Michael Vick car rental fleet- I guess the Spectras and Tauruses were for the lower level posse members or gofers…

  18. jrdnjstn78 says:

    What a dumbass

  19. Adisharr says:

    Vick is a divine example of a huge tool. The kind of tool that NASA should let burn up on re-entry.