According to TMZ.com via BlackSportsOnline.com, Buffalo Bills quarterback Vince Young is being sued by Pro Player Funding, since he owes them $1.69 million after taking out a lockout loan last season.
“Vince Young is in trouble … the struggling NFL star is on the hook for $1.69 million … after failing to pay back a high risk, high interest “lockout loan” that he took out back when he was a member of the Tennessee Titans … this according to court docs.
“According to court docs obtained by TMZ, Vince went to Pro Player Funding in May 2011 — during the middle of the NFL lockout — and took out a loan for $1.876,876.88. PPF is a company which specialized in “lockout loans” for NFL guys looking to cover their bills during the pay freeze.
“Young’s loan was VERY high risk … with high interest rates and a clause that allowed PPF to call in the entire amount due, plus interest, if Vince missed ONE payment.
“And according to court docs, that’s exactly what happened in May 2012 … right after Young left the Philadelphia Eagles and signed a new deal with the Buffalo Bills, he missed his payment.
“PPF instantly went to the court and obtained a judgment against Young … ordering the NFL star to pay back the remaining balance on his loan … plus interest … totaling $1.69 million,” TMZ reported.