Over the past two years, Peterson’s financial troubles have led to at least three different lawsuits, with three different creditors using the court system to try to convince Peterson to pay off his debts. Of those three lawsuits, two were filed in the past eight weeks.
According to Peterson’s attorney, Chase Carlson, the 34-year-old is in financial trouble because he trusted the wrong people.
“The truth behind Adrian Peterson’s current financial situation is more than what is reported at the moment“Carlson said in a statement. “Due to ongoing legal matters, I am unable to go into specifics, but I will say this is yet another situation of an athlete trusting the wrong people and took advantage of those he trusted. Adrian and his family look forward to sharing more details as they become available.”
Although Carlson didn’t provide any specific details about Peterson’s financial situation, the three lawsuits provide a small insight into the running back’s money troubles. The first lawsuit, which was filed in Minnesota in October 2017, charged Peterson of defaulting on a $2.4 million loan.
In this case, Peterson took out the loan in May 2016 and defaulted five months later. The company that filed the lawsuit, Crown Bank, spent nearly a year trying to work things out with Peterson before taking him to court. Peterson was eventually ordered to repay the $600,000 that remained on the loan.
Peterson also took out a separate $4 million loan in April 2016 that he is being sued for. According to court records obtained by the Baltimore Business Journal, Peterson missed the first payment on the loan, causing the interest rate to jump from 15% to 23%. Although Peterson repaid part of the loan, the the case went to court in June and it ended with a Maryland judge ordering Peterson to pay back $2.4 million to the company that sued him, Democracy Capital Corp.
The third case involving Peterson is the largest to date. According to to athletics, Peterson is being sued for allegedly defaulting on $5.2 million with a lender in Pennsylvania. Apparently, the running back took the loan to try to pay off his other debts but he only got further into debt. When you include interest and legal fees, Peterson now owes more than $6.6 million on his $5.2 million loan.
Since NFL players only get paid during the season, Peterson won’t get his weekly game check until September. The ball carrier signed a two-year, $5.03 million contract with Washington in March that included $1.5 million in guaranteed money.
Overall, Peterson has earned a total of $99.22 million over his 12-year career, meaning by the end of the 2019 season, Peterson will have earned over $100 million over the course of his career. of her career.