Michael Vick sued by his creditors for $1.2 million in loans

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Michael Vick is again facing legal troubles as a group of creditors sued him in Broward County, Florida in circuit court on Miami Herald reported.

The South Florida lawsuit details how the group is suing the former NFL quarterback and his wife over $1.2 million loans dating back to 2018 in Maryland. According to Miami Heraldattorneys representing the group have issued subpoenas for the Vicks, and depositions are scheduled for August 5.

The group cannot tackle their new home, given that it is protected as the couple’s primary residence, according to the Florida group. However, assets like cars, sports memorabilia, and jewelry would be fair game.

Vick’s attorney suggested in a statement to the Herald that the amount detailed in the combination is inflated. He said: “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. 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.

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The 2018 loan was reportedly $400,000 from Atlantic Solutions, which was the bridge between Vick and NV Partners. The former NFL player’s debt was sold by Atlantic Solutions to SMA Hub, who split the interest on the loans among six people he would never have paid.

The Washington Post published an article in 2020 which detailed that the agreement was for the company to receive “up to three years of income from Vick, including that which he receives as a TV football analyst”. The former quarterback reportedly said he would repay the company $100,000 by March 1, 2020.

Vick is said to be nearly $2 million in debt, but if the initial $100,000 is paid, his total repayment would be reduced to $1.3 million in the settlement plan between Atlantic Solutions and Vick. However, Daniel Wright, NV Partners’ lawyer, told the Herald that Vick “didn’t pay anything”.

Vick recently landed a new job with athlete management company Levels Sports Group as Head of Sports Development. The 42-year-old has taken care of his image after his two-year stint in prison, which began in 2007, for dog fighting. He had also filed for bankruptcy. The latest lawsuit against Vick stems from two loans with Atlantic Solutions.

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