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Lions running back, Adrian Peterson, made a lot of money. He currently owes a lot of money.
Via Michael Rothstein of ESPN.com, a court ordered the payment of nearly $ 8.3 million to a Pennsylvania lending company. Peterson defaulted on a loan in 2016.
Peterson initially owed $ 5.2 million, plus interest. He did not refund the money until March 1, 2017. He was sued in 2018. Interest accrues daily, at 16% or $ 2,207.12 per day. The rate will drop to nine percent, reflecting New York’s statutory post-trial interest law.
Peterson, according to Danial Kaplan of TheAthletic.com, did not attend the hearing or send a lawyer on his behalf.
Peterson could eventually go bankrupt, selling unsecured assets to pay off as much of the debt as possible.