Curry Can’t Pay $570,000 Loan - At 85% Interest

The only thing harder for Eddy Curry right now than getting on the court for the Knicks is paying his bills. That’ll happen though when you take out a personal loan for $570,000 - with an 85 percent interest rate.

Eddy Curry

Curry, hoping for court-ordered relief from a 2008 loan that has now ballooned to $1.2 million thanks to interest, was recently ordered by New York State Supreme Court Justice Jane Solomon to pay lender Allstar Capital $75,000 a month plus interest.

Of the loan, Allstar lawyer Donald David said, “He never paid any portion of it.

Solomon also cleared Allstar Capital to seize two 2009 Range Rovers and a 2009 Rolls-Royce Phantom convertible owned by Curry. That leaves Curry with nine cars, most of which are driven by relatives and his entourage.

In response to Solomon’s judgement, Curry’s legal counsel argued that he couldn’t pay the $75,000 per month to Allstar because of his current bills, which include:

$30,000 a month in “household expenses”
$17,000 a month to relatives and “dependants”
$6,000 a month for his personal chef
$350,000 he owes Juwan Howard
$1,075 a month in cable and satellite TV service
The unpaid mortgage on his Chicago mansion

Curry’s lawyers also reported to the judge that the NBA player is currently having $207,000 of his Knicks salary garnished per month.

The attorney refused to elaborate on the reason for the garnishment but the NEW YORK DAILY NEWS reported last year that Curry asked the Knicks for $8 million in cash to help pay personal debts. In response, the Knicks fronted Curry $2 million.

Also last year Casual Male Retail Group sued Curry over a $46,000 bill and the NBA player’s home in suburban Chicago was in foreclosure.

The Knicks hold an $11 million option on Curry’s contract for next season, though the underachieving big man has played in just 10 games the past two seasons.

If only it was fun while it lasted.