Colorado football safety Shilo Sanders hasn’t kept up on his payments for his 2023 Mercedes-Benz, leading the car company’s financial services arm to seek relief from the court where Sanders filed for bankruptcy in 2023 with more than $11 million in debt, according to court records filed Tuesday by Mercedes-Benz Financial Services.
The company said Sanders, son of Colorado coach Deion Sanders, was past due for $6,877 on his monthly payments from December through February. It also noted Sanders has an outstanding balance of $97,239 while the trade-in value for the car is less than that at $97,000.
As a result, the company wants the court’s permission to take possession of the car and for Sanders to provide the location of it.
Why Mercedes is making this move now
Sanders, an NFL draft prospect, filed for bankruptcy in October 2023, hoping to discharge more than $11 million in debt – almost all of it owed to one man, John Darjean, a security guard from his former school in Texas.
The Chapter 7 bankruptcy filing triggered an automatic stay or hold on debt collection efforts against him. But Mercedes-Benz Financial Services now is arguing it should be entitled to relief from this stay under these circumstances.
“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 show Shilo Sanders, 25, agreed to buy the $135,000 car with installment payments in May 2023, several months before he filed for bankruptcy. He continued to make payments after filing for bankruptcy but recently defaulted, according to the company.
“Debtor…
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Publish date : 2025-04-02 02:05:00
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