Mercedes-Benz demands payment or the return of Shilo Sanders' luxury car...
From The Daily Mail
The financial services arm of Mercedes-Benz is demanding the payment - or repossession - of a vehicle from University of Colorado safety Shilo Sanders.
According to USA Today's Brent Schrotenboer (via Yahoo Sports), the automaker is seeking relief from a court where Sanders filed for bankruptcy in 2023 after accumulating $11million in debt.
The company claims that Sanders is past due for $6,877 in monthly payments on a vehicle. Sanders has an outstanding balance of $97,239 while the trade-in value of the car stands at $97k even.
Now, Mercedes-Benz is seeking permission from the court to take possession of the vehicle and for Sanders, the son of Colorado head coach Deion Sanders, to reveal its location.
It's not clear exactly what Mercedes-Benz model Sanders is in possession of.
Sanders filed for bankruptcy back in October of 2023 in an attempt to clear that $11m in debt.
While the Chapter 7 filing triggered a stay or hold on any debt collection efforts against the 25-year-old Sanders, the automaker argues they're entitled to relief from this stay due to the missing payments.
'The motor vehicle is depreciating in value, the contract is in default and the movant (Mercedes Benz Financial Services) is being prevented by the automatic stay from exercising its remedies to repossess and liquidate its collateral, the motor vehicle,' said the filing from Mercedes Benz Financial Services and its creditor attorney Doug Koktavy.
Records indicate that Sanders agreed to buy the vehicle - valued then at $135,000 - with an installment plan back in May of 2023. That came roughly five months before filing for bankruptcy.
Sanders continued to make car payments after filing for bankruptcy. However, the company claims that he recently defaulted.
'Debtor (Sanders) indicated an intent to retain the motor vehicle and reaffirm the obligation,' the company's filing stated. 'Debtor has not accomplished this intention.'
Sanders' bankruptcy case originated from an incident back in 2015. Darjean claimed that the young Shilo, who was 15-years-old at the time, caused him severe and permanent injuries as he tried confiscating the boy's phone.
While Shilo claimed he was acting in self-defense, Darjean sued the boy for damages.
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