Adrian Peterson loan in default

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@Purplewhizz said:
I always thought he'd be broke quickly after retiring but it sounds like he's already on his way.  A fool and his money are soon parted.

I always thought it was "A fool and his money are some party!" ?

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On the flipside, Kirk Cousins...
http://www.businessinsider.com/kirk-cousins-drives-a-dented-passenger-van-despite-looming-payday-2016-1

Oh, and he lives with his wife  in his parents basement in the summer. 

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wonder how much he can get for the camel.

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Articles often describe what the title is about and then wander off into a summary of past history but this stuck out like a sore thumb to me.  What was the point of adding this?
In November 2015, Peterson pleaded no contest to a child injury charge after he was accused of abusing his son.

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@Caactorvike said:
wonder how much he can get for the camel.

...how much bubble wrap is needed to ship?

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@BlackMagic7 said:

@Caactorvike said:
wonder how much he can get for the camel.

...how much bubble wrap is needed to ship?

No bubble wrap...they use giant foam orange peanuts of course.

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@StickyBun said:

@comet52 said:

@Tom Moore said:
BTW - none of this mean AP is broke.  He may have just elected not to pay back the loan.  He didn't forget, as he would have got lots of notices before the lawsuit was filed

What does a guy who's been paid the enormous sums the Vikings have paid him need a loan for?   Sorry, not buying it.  

Because borrowing money is dirt cheap right now. Its not always in your best interest from a financial aspect to pay for everything in cash, cash you could be using to invest in equities or other vehicles. Its very hard to know why Peterson defaulted on this loan and like has been mentioned, this by no means means AP is broke.

Oh please.  It's Adrian Peterson, an ignorant man surrounded by parasites, not Elon Musk looking for his next big opportunity. 

I personally would not indulge in rationalizing excuses that some alleged financial acumen of AD's explains how despite being paid nearly 100 million dollars in his career he is now defaulting on loans at the tender age of 32.

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@comet52 said:

@StickyBun said:

@comet52 said:

@Tom Moore said:
BTW - none of this mean AP is broke.  He may have just elected not to pay back the loan.  He didn't forget, as he would have got lots of notices before the lawsuit was filed

What does a guy who's been paid the enormous sums the Vikings have paid him need a loan for?   Sorry, not buying it.  

Because borrowing money is dirt cheap right now. Its not always in your best interest from a financial aspect to pay for everything in cash, cash you could be using to invest in equities or other vehicles. Its very hard to know why Peterson defaulted on this loan and like has been mentioned, this by no means means AP is broke.

Oh please.  It's Adrian Peterson, an ignorant man surrounded by parasites, not Elon Musk looking for his next big opportunity. 

I personally would not indulge in rationalizing excuses that some alleged financial acumen of AD's explains how despite being paid nearly 100 million dollars in his career he is now defaulting on loans at the tender age of 32.

That's because you might not know how wealth management works. I'm not commenting on Peterson's financial acumen, it might be horrible. I'm commenting about how people with money many times borrow money for various things because its the better move than laying out cash. I'll wager wealthy people borrow more money than anyone else. Its far from unusual. That was my only point, that just because he got a loan for something, doesn't mean he's broke.

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He may also have taken loans for real estate due to the tax benefits, probably common advice to someone with his high salary. As of July his house in Eden Prairie was for sale, and he was asking $655,000 - interestingly close to the loan amount. I couldn't find any reports of it selling yet, anyone know?

But I don't think anyone cares whether he borrows money - it's that he isn't paying it back. Given the blows his public image has suffered since 2013, you would think he would avoid having "deadbeat" added to the list if possible. 

Peterson asked the bank for more time, and paid down the loan so that he owed $594,000. But in its lawsuit, the bank said Peterson “failed to comply with Crown Bank’s demands.” Crown Bank is now seeking the money Peterson still owes plus interest, totaling about $602,726.

It's hard to imagine this about someone paid $13 million in 2016, but - is he already living paycheck-to-paycheck?

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@Tom Moore said:
This could be any athlete - they don't understand money, and are very willing to walk away from obligations.   Personally, if I owe someone money, I can't sleep at night if I don't have a plan to pay it off.

I doubt Matt Birk owes anyone anything.  Not "any athlete".  There are a few smart, responsible ones out there.