NBA star Paul Pierce is currently in a bit of legal trouble, after a bank filed to repossess his Range Rover.
According to legal documents, obtained by The Blast, Pierce is being accused of not paying JP Morgan Chase Bank his monthly payments on a 2019 Range Rover. The bank claims the basketball star stopped paying at the end of last year and currently owes an unpaid principal balance of $91,459.55.
This isn’t the first time Pierce has been accused of owing money. In 2019, a creditor placed a lien on his business over a debt of $162,273.59.
Paul Piecer’s Range Rover Is At Risk Of Being Repossessed
The bank claims the car was given to Pierce in 2019 after entering a “Closed-End 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 Defendant [Pierce].”
It continues that “Chase has demanded possession of the Vehicle from Defendant. Defendant has not surrendered the Vehicle.”
From the look of things, the bank is demanding the Range Rover be returned and has no interest in getting Pierce to pay the unpaid balance.
The document states, “Chase is only attempting to enforce its security interest in the Vehicle herein by seeking possession of the Vehicle, and in no way is this Complaint an attempt to enforce the Defendant’s personal liability on the Agreement.”
Creditor Places Lien On Paul Pierce’s Business
In 2019, a creditor placed a lien on Pierce’s business after he failed to repay a loan. As reported by The Blast, Pierce 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, an attorney representing the lenders said, “Mr. Pierce preaches honesty and the ‘Truth’ but yet he must believe his former celebrity status entitles him to harm lenders who trusted him in his riskier business practices when other lenders would not. My client and I are disappointed that this Inglewood native would be so careless with his obligations.”
The NBA legend has a reported net worth of over $50 Million, so it does make one wonder how he finds himself in such predicaments where he is accused of owing money. Or, maybe this is just a strategic legal move. There are always two sides to every story.
Pierce has yet to respond in the case.