Posted August 16, 2012 on AP on Fox
Quarterback Vince Young has been ordered to pay a loan company nearly $1.7 million after missing a payment in late 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. Young took out a high-risk loan from Pro Player Funding for $1.877 million during the NFL lockout in May 2011, while he was still under contract with the Tennessee Titans. The loan - plus $619,000 in interest - was due to be paid back in January 2013 at an annual interest rate of 20 percent. That rate jumped another 10 percent if Young missed a payment. A ruling in the lending company'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. The affidavit is regarded as proof and could be used at any time by the lender in the event a client defaults on the loan. TMZ.com first reported the ruling against Yo...
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