Possibly influenced by an economy in which people have stopped paying back money they owe to creditors, Bengals receiver Chad Ochocinco has defaulted on a car loan.
The difference, of course, is that he remains very gainfully employed during the worst overall financial climate in decades.
According to Kimball Perry of the Cincinnati Enquirer, Ochocinco bought a car in August 12, 2008, under the name “Chad Johnson.”
Ochocinco made a down payment of $20,000 on the 2008 Dodge Challenger, and he financed the remaining $37,000.
Daimler Chrysler Financial Services sued Ochocinco on Friday, alleging that he has paid only $3,200 in 13 months. His monthly payments are $847.11.
Ochocinco still owes $34,709.
It’s not as if he can’t afford it. He seems to live a relatively modest lifestyle, in comparison to the likes of T.O., who purchased six-figure earrings during an episode of his unreality show on VH-1.
And it’s not the first time Ochocinco has been sued. Previously, he was the subject of a claim that he stiffed comedy club patrons out of a chance to win a Lexus after he gave the car to his girlfriend.
After taking Ochocinco’s sworn deposition in the case, lawyer Eric Deters declared that Chad has the “mental agility of a soap dish.”
Apparently, the soap dish has struck again. Whether it’s a product of laziness or frugality, we’ve all got to pay our bills, and Chad should just write the check and move on.
To his credit, we’ve got a feeling he’ll finagle a way to get Motorola or someone else to write the check on his behalf.