NFL star Bryant McKinnie was worried, as were most players, during the 2011 NFL lockout.
He was so worried that just before the lockout, he took out a $4 million loan.
He used Pro Player Funding who specialized in “lockout loans” for NFL players who were worried about their cash flow stopping during the lockout pay freeze.
These loans were very high risk, with high interest rates and a clause in the loan that if a single payment was missed, the PPF could demand all of the money to be repaid immediately.
And that’s exactly what happened with Bryant McKinnie.
His paychecks were going directly to paying off the loan, but then he was cut from his team!
The paychecks obviously stopped coming after this and he missed a payment!
So the PPF immediately took him to court and got a judge to order him to pay back all the money plus $300,000 in interest immediately!
So far there’s no comment from McKinnie, most likely because he’s running around checking all his couches for change.
[Image via WENN.]