Bills QB Vince Young On The Hook For $1.69M In Lockout Loan

Buffalo Bills quarterback Vince Young is on the hook for $1.69 million after failing to pay back a high risk, high interest "lockout loan" that he took out back when he was a member of the Tennessee Titans, TMZ reports according to court documents. Young went to Pro Player Funding in May 2011 -- during the middle of the NFL lockout -- and took out a loan for $1.876,876.88, PPF is a company which specialized in "lockout loans" for NFL guys looking to cover their bills during the pay freeze. Young's loan was very high risk, with high interest rates and a clause that allowed PPF to call in the entire amount due, plus interest, if Vince missed one payment and according to court docs, that's exactly what happened in May 2012, right after Young left the Philadelphia Eagles and signed a new deal with the Buffalo Bills, he missed his payment. PPF instantly went to the court and obtained a judgment against Young, ordering Young to pay back the remaining balance on his loan plus interest totaling $1.69 million. The number is close to the salary Vince will be making with the Bills this season. He signed a 1-year deal worth $1.9 million.

Source: The Redzone

 

Ouch. But he took the loan knowing the risk.

 

He did take the loan, but I doubt he knew the risk, he doesn't know anything.

 

He might have been told the terms but I doubt he understood what it actually meant.

 

Specializing in lockout loans? There aren't that many lockouts for that to be a specialty is there? Must be some awesome interest if in a years time he only paid back 200k.