NBA star Paul Pierce is currently in a bit of legal trouble, after a bank filed to repossess his Range Rover.
According to the legal document, obtained by The explosion, Pierce is accused of not paying JP Morgan Chase Bank his monthly payment on a 2019 Range Rover. The bank claims the basketball star stopped making payments late last year and currently owes an unpaid principal balance of $91,459.55.
This is not the first time Pierce has been accused of owing money. In 2019, a creditor placed a lien on his business for a debt of $162,273.59.
Paul Piecer’s Range Rover Is At Risk Of Being Seized Again
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The bank claims the car was given to Pierce in 2019 after entering into a “Closed Motor Vehicle Lease Agreement.”
The legal filing reads, “As of July 18, 2023, the unpaid principal balance of $91,459.55 is due and payable to Chase from the Defendants [Pierce].”
It continued that “Chase has claimed possession of the Vehicle from the Defendant. The defendant has not handed over the Vehicle.”
From the looks of things, the bank is demanding the Range Rover be returned and is not interested in getting Pierce to pay the outstanding balance.
The document states, “Chase is only attempting to enforce its security interest in the Vehicle herein by obtaining possession of the Vehicle, and in no way is this Complaint an attempt to enforce Defendants’ personal liability under the Agreement.”
Creditors Place Liens On Paul Pierce’s Business
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In 2019, a creditor placed a lien on Pierce’s business after he failed to repay a loan. As reported by ExplosionPierce owed $162,273.59 at the time after borrowing money for his company.
The lien was placed on Pierce’s marijuana business near San Bernardino, CA, and also on his home in Los Angeles.
At the time, a lawyer representing the lender said, “Mr. Pierce preaches honesty and ‘Truth’ but he must believe his former celebrity status qualifies him to endanger lenders who trust him in his riskier business practices when other lenders do not. My client and I are disappointed that this Inglewood native would be negligent in his responsibilities.”
The NBA legend has a reported net worth of over $50 Million, so it makes one wonder how he found himself in such a predicament where he was accused of owing money. Or, maybe this is just a strategic legislative move. There are always two sides to every story.
Pierce has yet to respond in the case.
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Source: thtrangdai.edu.vn/en/
