Mayweather Sued Over Default Loan, Car Repossessed

Mayweather Sued Over Default Loan, Car Repossessed


By Mark Vester
Another company has filed a lawsuit against Floyd Mayweather Jr. This time for defaulting on an auto loan. Last Wednesday, JP Morgan Chase Bank filed a lawsuit in Clark County District Court in Las Vegas, claiming that Mayweather owes $167,000.
According to the Las Vegas Sun, Mayweather borrowed $415,695 in April 2007 to finance the purchase for $512,184 of a Mercedes Maybach 57S from dealer Fletcher Jones Imports in Las Vegas. The contract with Fletcher Jones called for an interest rate of 16% and 72 monthly payments of $9,077. Mayweather's last payment was made in February of 2008. The subject vehicle was repossessed by the bank in January 2009.
The bank sold the car for $196,000, leaving a balance of $167,192 on the contract. The bank is also looking to recover their costs for legal expenses.
The newest lawsuit adds fuel to the heavy speculation that Mayweather returned to the ring to re-build his bank account after being inactive since December 2007. A few months ago it was revealed that Mayweather owes $6.1 million in back tax to the IRS.
Mayweather returns on Saturday against Juan Manuel Marquez at the MGM Grand in Las Vegas.

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So much for him not owing any one anything. He said on 24/7 that everything he owns is paid for....yeah right! Then on this last 24/7 he says "Im going to fight Marquez for the love of the sport not for money" HAhhahahahahahaha this guy is so stuck on his debts that he is willing to lose so that he can stay in his mansion.