Looks like we have some financially challenged tools on our team.

[unicar15]

Barely into the second month of the lockout, there's already been some disturbing news on the financial front for players. Players from at least 16 teams have at least shown interest in taking out short-term loans with high interest rates and fees, according to a report from ThePostGame.com. The report cited a source that indicated the interest rates range from 18 to 24 percent, and could rise to as high as 36 percent on default. "I know at least 16 different teams that have had players go out and have to set these [high-risk loans] up," said a financial adviser in the report. "Guys on the Dolphins, Saints, 49ers, Panthers, Chargers, Bears, Vikings."

Read more: http://www.fannation.com/truth_and_rumors/view/278752-report-locked-out-players-already-seeking-loans?eref=sihp#ixzz1Jo1Dsl7L

Taking out loans that charge 24% interest?? Are you kidding me?

[DevilCat]

Hey man, Bling, Hoes, and Rims are NOT cheap!:wink5:

[Panthro]

Hey man, Bling, Hoes, and Rims are NOT cheap!:wink5:

Those %'s sound right in line with a lot of the credit card rates today. If I was in their position I would probably explore a line of credit as well. Not everyone that makes $$$ also has decent credit. But just for poos and giggles let's throw some idiotic stereotypes out there...

Oh wait this is ok, right

[DevilCat]

^ Let's be real. These are young guys...most of them were not biology majors from Dartmouth, Duke or M.I.T.

[Panthro]

Ok. So I take it you graduated from an institution like Dartmouth MIT or Duke?

[Mother Grabber]

Hey man, Bling, Hoes, and Rims are NOT cheap!:wink5:

Don't I know it!

What's so impressive about a Biology degree anyway...or Duke for that matter? I'm on board with MIT, though. Those fuggers are crazy.

[DevilCat]

Ok. So I take it you graduated from an institution like Dartmouth MIT or Duke?

No...But I did pay four years tuition at one of the above. My point is: most young players are not used to having that kind of money, and very few of them are responsible with it. BTW.....some folks lose sight (basketball aside) that Duke University is known as "The Harvard of the South", and yes, has a pretty tough Biology department. I would say that it's a bit harder, then say "Parks and Recreation" from Coastal Carolina.

[Mother Grabber]

No...But I did pay four years tuition at one of the above. My point is: most young players are not used to having that kind of money, and very few of them are responsible with it. BTW.....some folks loose sight (basketball aside) that Duke University is known as "The Harvard of the South", and yes, has a pretty tough Biology department. I would say that it's a bit harder, then say "Parks and Recreation" from Coastal Carolina.

Do they know how to spell 'lose' at Dook? :) Just fugging with you.

Having gone to a school that is in the same athletic conference at MIT, I have a lot more respect for them than I do Harvard. Harvard is all about the rep.

[Panthro]

No...

So I take it you went out and bought hoes, bling, and rims.

[DevilCat]

Sorry for the typo...lose....And it's Duke....I think the spelling error originated at Orange County Community College a.k.a. UNC-CH.

[DevilCat]

So I take it you went out and bought hoes, bling, and rims.

Man, don't take it personally... These players are young kids that don't always get the best financial advice.

[Mother Grabber]

If I had a $1M signing bonus as a 22 year old, you know I'd have a bitchin car, giant jacuzzi full of hot bitches and a big ass TV in every room. Fortunately, I've learned a little about money management since then.

[DevilCat]

I'am sure we've all heard the stories or seen the documentaries about some of these guys, after their careers are over...are broke due to bad habits. Some, even destitute.