For most people in Louisiana (and throughout the nation) borrowing money is a rather serious matter. There are obviously various means for securing loans when needed, from asking a friend or loved one for money to signing an agreement with a lending company. The latter typically includes specific terms that hold all parties obligated in some way. A contract dispute in another state has arisen because a woman who borrowed money claims she has become the victim of predatory lending practices by the lender.
The woman first secured her loan in 1995. She reportedly signed a contract agreeing to make 20 years’ worth of monthly payments to satisfy the debt. The woman says she can prove she has fulfilled all the terms of the agreement.
The problem is, the lender apparently claims that she still owes over $5,000. She’s filed a lawsuit against the lending company to resolve the issue in civil court. Her claim requests a trial by jury and compensation for punitive and actual damages.
The woman also hopes successful litigation will provide compensation to cover court fees and all other costs associated with her contract dispute. Borrowing money from a lending company is a very personal matter. It’s understandable that a Louisiana resident, who has made faithful monthly payments for two decades, thinking a debt has been satisfied and then told otherwise by the lender, would seek experienced legal guidance before sending any additional monies to the lender. A business and commercial law attorney can address all aspects of such contract-related problems in court.
Source: wvrecord.com, “Property owner accuses financial lenders of breach of contract“, Noddy A. Fernandez, April 13, 2017