Mercedes-Benz has backed down from its attempt to repossess the car of Colorado football safety Shilo Sanders.
The company’s financial services arm filed a document in court Monday saying it has withdrawn its motion for relief from the bankruptcy court where Sanders is trying to free himself of more than $11 million in debt.
It didn’t say why, but Shilo’s father and coch, Deion Sanders, said Friday that Shilo had fulfilled his financial obligations while acknowledging there was a “disruption in the payments process.” The company could have decided to drop it if he recently paid what he owed.
The issue came to a head last week when Mercedes-Benz Financial Services filed documents in court that accused Shilo of defaulting on his monthly payments for his $135,000 car. It said he was $6,877 past due and wanted the court’s permission to repossess the car that he agreed to buy in May 2023.
Bankruptcy case remains pending
Shilo Sanders, 25, filed for Chapter 7 bankruptcy about five months later, in October 2023, which triggered an automatic stay or hold on debt collection against him by his creditors. Mercedes-Benz asked the court for relief from this stay on April 1 so it could get the car back. Even after filing for bankruptcy, Sanders had continued to make payments on it in 2024 but stopped doing so from December to January, according to the company’s court filing.
“Debtor (Sanders) indicated an intent to retain the motor vehicle and reaffirm the obligation,” the company said in its motion filed April 1.
By withdrawing its request, the company ends a brief sideshow in a larger bankruptcy case that remains pending and in dispute.
Debt stems from disputed incident in 2015
Almost all of Shilo’s debt is owed to a security guard at his former school in Dallas, John Darjean, who is fighting to collect all that he…
Source link : https://www.usatoday.com/story/sports/ncaaf/2025/04/07/shilo-sanders-mercedes-bankruptcy-withdrawal-deion-sanders-colorado/82981040007/
Author :
Publish date : 2025-04-07 21:00:00
Copyright for syndicated content belongs to the linked Source.
