PITTSBURGH – A Pennsylvania resident is facing legal action after allegedly defaulting on the terms of the promissory note offered by a professional loan program trust.
SoFi Professional Loan Program Grantor Trust 2015-C of Reston, Va. filed suit in the Allegheny County Court of Common Pleas on Nov. 29 versus Andrew Coleman, of Ambridge.
“The principal damages amount sought by plaintiff in this complaint is within this Court’s monetary jurisdictional limit. Defendant entered into a loan agreement/promissory note, and funds were disbursed pursuant to the terms of the note or as requested by defendant,” the suit says.
The plaintiff claims the original lost was lost or destroyed, so the plaintiff was not in possession of the original note, but as the owner of the note, it is entitled to enforce the terms under applicable law – since the defendant failed to make payments according to the terms note.
“As a result of the default by defendant, plaintiff has accelerated the full balance due and owing pursuant to the terms of the note. Demand was made upon defendant. As of today’s date, defendant has failed to pay plaintiff pursuant to the terms of the note. As defendant have materially breached the terms of the note, the damages due and owing to plaintiff after deducting all just and lawful offsets, payment and credits is the sum of $48,106.73,” the suit adds.
For breach of contract, the plaintiff is seeking damages of $48,106.73, plus costs to the extent permitted by applicable law
The plaintiff is represented by Jonathan P. Cawley and Nash Boone of Zwicker & Associates, in Bensalem.
Allegheny County Court of Common Pleas case GD-17-016528
From the Pennsylvania Record: Reach Courts Reporter Nicholas Malfitano at email@example.com