NFL Concussion Payoffs Attract Lenders

A while ago we wrote a blog about NFL concussions and how players often suffer from major head trauma. We also posted a story about the massive numbers of former NFL players that find themselves in debt following retirement (debt that is often hard to get out of). This story follows along those previous lines, but something else is added to the mix this time around.

Debt collectors are purposely targeting former NFL players that have suffered from serious head injuries. Why? Many of these players may possibly gain millions from the NFL for sustaining concussions and living with the repercussions of the head injuries.

The Perfect Target

If you’ve been following headlines related to the NFL lately, you’ve probably seen the news that the NFL may be forced to pay a number of former players millions in settlements. These players suffered head traumas while playing in the NFL and now have a hard time completing daily tasks (including earning enough money to pay for basic items).

Since these players are the perfect target for lenders, credit card and debt repayment companies have been sending out fliers to these players. These lenders promise to help with debt and many players are already in debt thousands of dollars to these companies. 

The Problem

Most of the lenders promising former NFL players debt relief do so with strings attached. The loans offered often come with very high-interest rates. This may mean that those players waiting for millions from the NFL have already promised many of those dollars to lenders. Various lending companies that are targeting former NFL players are looking to loan those players millions in order to recoup the money - with an extra helping of steep interest.

So far, the lenders are acting in accordance with the law, but there are much better (and cheaper) ways for NFL players - and anyone else - to get out of debt. Unfortunately, most of the targeted players are unaware of other options.

How You May Be Impacted Too

We want you to know you are not alone in your financial struggles. Most of our clients say, “I should have known better”. Well, here’s proof that financial difficulties happen to everyone - no exceptions.

Even NFL players find themselves declaring bankruptcy, run down by debt, and owing lots of money to lenders that they thought were helping. If you (or anyone else you know) need help getting out of debt, contact the Dellutri Law Firm - we can give you the best options that won’t cost a fortune!