June 5th, 2012 by faye
NBA legend Julius Erving, popularly known as Dr. J all over the world, just lost in a lawsuit claiming that he defaulted on a huge loan, and now has been ordered to cough up a big sum of money
The documents which has been filed in Georgia claims that Dr. J took out a loan back in 2009 from Georgia Primary Bank. His original loan was for $1,000,000 and Dr. J had an outstanding balance of $210, 705.71 which he reportedly never paid for.
Georgia Primary Bank made several requests for the balance Dr. J still has to pay, and when such requests were ignored, that was when the bank filed a lawsuit in October 2011. However, the lawsuit was ignored as well by the NBA legend, so a court in Georgia ordered him to hand over $230, 286. 86, which includes the original balance of his loan plus $19, 581. 15 in interest.
Julius Erving was the one who aided in legitimizing the American Basketball Association back in the days of his heightened glory. He was the greatest player in the ABA that time, when the ABA-NBA joined it with the National Basketball Association after the 1976 season.