Michael Vick ordered to pay
May 9, 2008 by James Edwards
Filed under Atlanta Falcons, Michael Vick
NFL Football at its best. NFL Football at its craziest.
Michael Vick is vilified everywhere
Image details: Michael Vick Sentenced in Federal Court served by picapp.com
What could possibly happen next to Michael Vick?
Will he get benched by his prison team for erratic passing?
Will the guard dogs start hearing rumors of his past life and threaten him?
Now we find out Michael Vick is being held responsible for a defaulted loan.
A federal judge ordered imprisoned quarterback Michael Vick to repay more than $2.4 million to a Canadian bank for defaulting on a loan.
The Royal Bank of Canada sued Vick in September, arguing his guilty plea to a federal dog fighting charge—and the resulting impact on his career— prevented him from repaying the loan.
According to the suit filed in U.S. District Court in Newport News, the loan’s terms specify that any employment change negatively impacting Vick’s income constitutes a default on the loan.
You remember the Atlanta Falcons and owner Arthur Blank went after Michael Vick’s bonus money that was paid to him from 2004 to 2007 to the tune of 20 million bucks. Lucky for Vick a Fed Judge let him keep all but 3.75 million.
There is also another lawsuit for 1.08 million involving Michael Vick over a bank loan on a wine shop and restaurant.
The troubles just continue to roll.
So how much will Michael have to pay?
The order Wednesday from U.S. Magistrate F. Bradford Stillman requires Vick to pay $2.4 million, plus $499 in interest per day, starting Sept. 19, 2007, and the bank’s attorneys’ fees and costs of $11,950 plus interest.
At this time, Michael is not only not receiving any pay from the NFL, but has lost all his major sponsors including the big Kahuna Nike and even with his 23 month sentencing, he is still facing state charges related to dog fighting.
It is so hard to believe that some people are still talking about him playing in the NFL again.
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