Peterson ordered to return $2.4M after failing to repay loan
Washington Redskins running back Adrian Peterson was recently ordered to pay back nearly $2.4 million to a lending service after he defaulted on a loan, according to court records obtained by the Baltimore Business Journal's Holden Wilen.
Democracy Capital Corp. of Bethesda, Md., sued Peterson in June over a $4-million loan he took out in 2016, claiming he failed to pay the balance.
The loan was due in February 2018 and was not repaid in full. Its original 15 percent interest rate jumped to 23 percent when the running back didn't make the first repayment of $200,000, according to court documents. Peterson did, however, make two payments later in 2018 worth a combined $1.7 million.
A Maryland judge ordered Peterson to pay the remainder of the loan plus legal fees and interest June 12.
"We did know the filing was coming," said Peterson's attorney Doug Wolfe. "It's more of a procedural thing than anything else. ... We are in negotiations to resolve the matter."
The 34-year-old has earned nearly $100 million during his 12-year NFL career.