Bills QB Young owes loan company $1.7 million

Associated Press  |  Last updated August 16, 2012
Quarterback Vince Young has been ordered to pay a loan company nearly $1.7 million after missing a payment in May, shortly after signing with the Buffalo Bills. The ruling against Young was made in New York State Supreme Court in Manhattan on July 2, according to court documents. TMZ.com first reported the ruling against Young last week. Young took out a loan from Pro Player Funding for $1.877 million in May 2011 during the NFL lockout. The loan was due January 2013 at an annual interest rate of 20 percent. That rate jumped another 10 percent if Young missed a payment. A ruling in PPF's favor was made because Young agreed he understood the terms by signing what's called an affidavit of confession of judgment upon taking out the loan.
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