It’s been a while since we’ve heard the name of Michael Vick, but unfortunately for the former NFL quarterback, it’s once again not related to good news.
Michael Vick could face legal action over unpaid debts
According to reports from South Florida, former NFL quarterback Michael Vick may be in serious financial trouble. According to reports, a group of creditors submitted a request in a Broward County circuit court to force the former Atlanta Falcons and Philadelphia Eagles star to repay approximately $1.2 million in judgments on loans he received in Maryland in 2018.
The group’s legal representatives have apparently issued subpoenas for Vick and his family, seeking to detail their assets in depositions scheduled for August 5. Although it would appear that Vick’s home in Southwest Ranches in Broward County is not involved in the proceedings due to Florida law that protects a primary residence, it is understood that plaintiffs in the case are looking for other assets such as cars, jewelry and sports memorabilia. “They indeed live in the house. There was a $160,000 Bentley in the driveway,” said Kevin Spinozza, a Coral Gables attorney leading the local collection effort. “Obviously a nice house, the one you’d think a retired NFL player would live in.”
How did Michael Vick get here?
What became clear during the storyline was that Vick allegedly received a number of loans that he apparently failed to repay. The lawsuit in question relates to two specific loans taken out with Atlantic Solutions in Bethesda, Maryland. Vick was reportedly supposed to repay the amount loaned to him through the sale of his old home in addition to funds from his retirement and pension accounts with the NFL.
Where things get sticky for Vick is that it is reported that the debt was then sold to a brokerage firm called SMA Hub, which in turn split the interest and sold it in portions to six people. Worse still, one of those people was a 60-year-old teaching assistant from Texas who claims to have put all of her life savings — around $50,000 — into the investment. It is understood that Vick never repaid the loan.
Michael Vick’s lawyers push back
Speaking on behalf of his client, South Florida attorney Arthur Jones appeared to imply that the amount of money mentioned in the judgments was not accurate but in fact inflated. “Michael Vick takes these matters seriously and is aware of the process and will ensure that all parties who are entitled to receive payment are paid,” he said. “However, usurious calculations that produce absurd results should not be tolerated by Florida courts. Therefore, all appropriate defenses will certainly be employed. Further commentary on the shenanigans that lead to situations like this may be made available at a later date.
Is Michael Vick delinquent in his financial transactions?
Incidentally, this isn’t Vick’s first brush with the law when it comes to financial matters, reports also mention some $400,000 in loans also issued by Atlantic Solutions which ultimately resulted in a 1 $.9 million against Vick, a judgment he would not have repaid either. Additionally, Vick was also reportedly the subject of lawsuits brought against him by CBS Radio East for an apparent breach of contract by failing to make a stipulated number of appearances on New York’s WFAN. Then there are also reports of a bank looking to take legal action against him for defaulting on his car.
Who was NFL quarterback Michael Vick?
Fans of the game will of course remember when Vick’s NFL career was sadly cut short by a 23-month prison sentence following his involvement in illegal dogfighting. The former NFL star played a total of 13 seasons in the league mostly with the Falcons and Eagles and was not just a great QB, but a prolific rusher, becoming the first quarterback in the league to rush for 1,000 yards in a season. To date, he leads all QBs in rushing yards. Vick had accumulated more than $115 million in career earnings by the time he retired in 2017.