Michael Vick Sued for Unpaid Car Loans
Michael Vick has been sued by an Indiana bank for failing to repay loans concerning a car rental business.
Suspended Atlanta Falcons quarterback Michael Vick has been sued by an Indiana bank for failing to repay loans concerning a car rental business, reports Associated Press.
In a federal lawsuit, 1st Source Bank of South Bend stated that it suffered damages of at least $2 million, due to Vick and Divine Seven LLC of Atlanta’s refusal to pay for vehicles. According to the suit, the bank issued a written demand for the balance due by Aug. 24 but Vick and Divine Seven have refused to pay.
Art Washington, Divine Seven's CEO, is listed on loan documents for Divine Seven. Washington operates a Payless Car Rental franchise in College Park, GA.
As the chief financial officer of Divine Seven, Vick signed loan agreements that bought at least 130 vehicles through 1st Bank loans, according to documents filed in a U.S. District Court in South Bend on Sept. 26.
The bank repossessed the majority of the cars, limiting Vick’s financial liability, corporate counsel for 1st Source Bank told AP.
More Rental Operations
Brazilian Executive MBA Targets Growing Domestic Rental Car Industry
Rental car companies face a unique combination of challenges that are rarely addressed in traditional programs.
Read More →
Green Motion Expands Into Japan With Master Franchise Agreement
Japan's tourism industry, business travel market, and demand for vehicle rental services are reasons the country represents an important market for the company.
Read More →
ACRA Carrying Fuller Industry Load As AI and EVs Lurk In Future
The leading car rental professional business group details an active legislative, regulatory, and macro-trends agenda affecting car rental operators.
Read More →
World Cup Travel Data Shows Longer Car Rentals and More One-Ways
A recent analysis of FIFA bookings found varied demand patterns that influenced rental car pricing.
Read More →
A Leveling Force: AI Morphs Into A Rental Car Profit-Seeker
Revenue managers can’t match the emerging AI tools gobbling lots of data that could counter the competitive race to the rate bottom.
Read More →
Stop Losing Money On Rental Tolls
Regardless of your rental fleet size and structure, fleet managers, executives, and owners can gain valuable insights into an often-overlooked area of fleet operations.
Read More →
Rethink The Future To Avert A Race To The Bottom
Rental car operators heard a sobering industry message and a stern challenge at the close of the International Car Rental Show.
Read More →
DriveItAway, Free2move Plan Shared Fleet Program for Independent Rental Fleet Operators
Vehicles would be placed with participating rental operations to support car renter demand and provide additional fleet capacity.
Read More →
Stellantis Recalls 1.3 Million Jeep Vehicles Worldwide Over Fire Risk
Stellantis is recalling more than 1.3 million Jeep Wrangler and Gladiator models worldwide over a fire risk linked to power steering pump wiring.
Read More →
Green Motion And U-Save Open Rental Operations In Guatemala
The brands will open their first rental car outlets in the country at La Aurora International Airport in Guatemala City.
Read More →