Adrian Peterson loan in default

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. 

wonder how much he can get for the camel.

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.

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

@"BlackMagic7" said:

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

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

@"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.

@"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.

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.

@"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.

@"Vanguard83" said: Does the league do anything to guide players in terms of investing / saving / pensions.... or is is "Here's your millions...go buy cars and gold necklaces"

Saw that documentary a couple years ago..large percentage of those rich athletes end up broke.

Sad.  These guys are at the height of the athletic spectrum, the best at what they do and paid handsomely.... but don't plan for the future.

NCAA doesn't care either,  if you can major in Latin or any other pointless degree, then athletes should be able to major in Professional Athlete.  So they can lean how to not impregnate to many women.  How not to take ridiculous loans before a lockout.

How to use Twitter/Social media.

I don't think it's an athlete thing. I think it's a very young person with a ridiculous amount of money thing. You see the same thing among actors, musicians. I know I wasn't as responsible with money in my 20s as I am now. 

@"Bolstad79" said:

@"Vanguard83" said: Does the league do anything to guide players in terms of investing / saving / pensions.... or is is "Here's your millions...go buy cars and gold necklaces"

Saw that documentary a couple years ago..large percentage of those rich athletes end up broke.

Sad.  These guys are at the height of the athletic spectrum, the best at what they do and paid handsomely.... but don't plan for the future.

No, and the NFLPA can't give two shits about them either.  How the players haven't come together and formed some sort of Co-op is beyond me.  They take home 49% of the revenue money, yet half of them are going to end up broke.

NCAA doesn't care either,  if you can major in Latin or any other pointless degree, then athletes should be able to major in Professional Athlete.  So they can lean how to not impregnate to many women.  How not to take ridiculous loans before a lockout.

How to use Twitter/Social media.

@"StickyBun" said:

@"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.

@"comet52" said:

@"StickyBun" said:

@"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.

Wealth management, lol.  What part of wealth management is the phrase "in default" ?   Keep trying to change the subject from AD is going broke to how dumb you think I am but the fact of him failing to pay off his loan remains.   

@"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.

 If Spielman and Zimmer hadn't been so intent on refusing his desire to be traded after his baby-whipping scandal, we'd have probably fleeced Jerry Jones for multiple high draft picks.   This organization almost never makes the smart move.  In the Wilf era it's driven by nostalgia and fantasies about reality that never play out, and the result is 1 playoff win since Zygmunt took over 12 years ago.

@"Bolstad79" said:

@"Vanguard83" said: Does the league do anything to guide players in terms of investing / saving / pensions.... or is is "Here's your millions...go buy cars and gold necklaces"

Saw that documentary a couple years ago..large percentage of those rich athletes end up broke.

Sad.  These guys are at the height of the athletic spectrum, the best at what they do and paid handsomely.... but don't plan for the future.

No, and the NFLPA can't give two shits about them either.  How the players haven't come together and formed some sort of Co-op is beyond me.  They take home 49% of the revenue money, yet half of them are going to end up broke.

NCAA doesn't care either,  if you can major in Latin or any other pointless degree, then athletes should be able to major in Professional Athlete.  So they can lean how to not impregnate to many women.  How not to take ridiculous loans before a lockout.

How to use Twitter/Social media.

@"StickyBun" said:

@"comet52" said:

@"StickyBun" said:

@"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.

Wealth management, lol.  What part of wealth management is the phrase "in default" ?   Keep trying to change the subject from AD is going broke to how dumb you think I am but the fact of him failing to pay off his loan remains.   

I'd think you'd be shocked to know how many wealthy people have defaulted on loans. I couldn't give a shit about AP and his financial situation. I only commented originally because your premise was that wealthy people shouldn't borrow money....that's where I came in. I'm far from a AP fan boy. But you aren't listening to what I'm saying.