Colorado football coach Deion Sanders addressed the bankruptcy case of his son Shilo Friday and said a recent financial issue involving Shilo’s car was because of a “disruption in payments” after the termination of his online account.
Mercedes-Benz Financial Services on Tuesday filed a motion in court that said Shilo, an NFL draft prospect, defaulted on his car payments for a Mercedes car that he agreed to purchase in May 2023 on a monthly payment plan. The company said he was past due for $6,877 in payments and hadn’t paid his monthly installments from December through February.
As a result, the company asked the bankruptcy court’s permission to repossess the car amid Shilo’s bankruptcy proceedings.
Deion Sanders brought up the issue at a news conference Friday during Colorado’s pro day workouts in Boulder.
“I know some other bulljunk came out, but he fulfilled all his financial obligations,” Deion Sanders said. “These issues appear to have risen due to disruptions in the payment process −this is from his attorney − 'following the termination of Mr. Sanders’ online account access.' So he’s good.”
Why was this an issue?
Mercedes-Benz Financial Services considered this “disruption in payments” to be a default on payments, meaning he stopped paying what he owed. As a result, the company moved to take the car back because Shilo, a safety for Colorado, still owes $97,239 on a $135,000 car from 2023 that now has a trade-in ...
