HOUSTON — Former NFL running back Adrian Peterson has been ordered by a Texas judge to turn over personal assets to help pay a debt that has ballooned to more than $12 million.
A court-appointed receiver has been seeking to collect money from Peterson as part of a judgment from a lawsuit filed against the four-time All-Pro running back over a $5.2 million loan he failed to repay to a Pennsylvania lending company. Interest and fees resulted in that debt more than doubling.
The receiver, Robert Berleth, asked a judge in July to order that constables accompany him to Peterson’s home in the Houston suburb of Missouri City so he can inventory assets that can be sold off.
“The receiver requests constable accompaniment when receiver levies the numerous assets known to be stored at (the home) to keep the peace and prevent interference with the receiver’s duties,” Berleth said in a court filing.
The judge issued a court order on Monday granting that request.
Attorneys for Peterson did not immediately respond to emails seeking comment Tuesday.
In February his attorneys filed court documents asking that Berleth be prevented from auctioning various items seized from storage units, including Peterson’s 2007 NFL “Rookie of the Year” trophy.
Later that month a judge ordered Berleth to stop the sale of the items from Peterson’s storage units.
Peterson made seven Pro Bowls during 10 years with the Vikings and in 2012 was named the NFL’s most valuable player by the Associated Press. After leaving Minnesota he played for six other teams, including Arizona, New Orleans, Washington and Detroit.
Former NFL star Adrian Peterson has found himself in hot water once again, this time over a $12 million debt that he owes to a Pennsylvania loan company. A judge has ordered Peterson to surrender his assets in order to settle the hefty debt.
Peterson, who has had a successful career in the NFL playing for teams such as the Minnesota Vikings, New Orleans Saints, and Washington Football Team, has reportedly fallen behind on payments for a loan he took out in 2016. The loan was used to finance his lavish lifestyle, including expensive cars, jewelry, and other luxury items.
The judge’s ruling comes after Peterson failed to make payments on the loan for several months, despite numerous attempts by the loan company to collect the debt. Peterson’s attorney has stated that they are working to come to a resolution with the loan company, but it remains unclear how Peterson plans to repay the $12 million debt.
This is not the first time that Peterson has faced financial troubles. In 2014, he was suspended by the NFL for child abuse allegations, which also had a negative impact on his finances. Despite earning millions of dollars during his NFL career, Peterson has struggled to manage his money effectively and has faced numerous legal and financial issues over the years.
It serves as a cautionary tale for other professional athletes who may be tempted to live beyond their means and take out risky loans to fund their lifestyles. It is important for athletes to seek financial advice and make smart decisions with their money in order to avoid ending up in a situation like Peterson’s.
As Peterson works to settle his $12 million debt, it remains to be seen how this will impact his future financial stability and reputation. It serves as a reminder that even former NFL stars are not immune to financial troubles and must be vigilant in managing their finances wisely.
