VICK RENTALS OUT OF FUEL, AS BANK WANTS MONEY BACK: If Michael Vick can’t run a dogfighting enterprise properly, how can he even manage a car rental service?
THE CONSUMERIST steps on the gas to tell us an Indiana bank is suing Vick and his company, Divine Seven, for not paying back loans taken out to buy cars.
1st Source Bank says that Vick signed the loan documents that went toward the purchase of 130 vehicles, mostly Kia Spectras and Ford Tauruses. However, the bank claims than none of the loans have been repaid.
When 1st Source sent a written demand on August 24, Vick & Divine Seven “failed and refused to pay.” According to court documents, Vick owes 1st Source about $2 Million.
And if that weren’t enough, a Canadian bank now wants its $2.5 million line of credit back from Vick for his supposed real estate investments - obviously used to find good land to set up his pit bull rings.