PITTSBURGH – A Pittsburgh resident is facing legal action after allegedly defaulting on the terms of the promissory note extended to them by a professional loan program trust.
SoFi Professional Loan Program Grantor Trust 2016-B of Reston, Va. filed suit in the Allegheny County Court of Common Pleas on Feb. 2 versus Laura Hammel, of Pittsburgh.
“The principal damage 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 complaint reads.
The plaintiff claims the original note 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 note’s terms.
“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 $141,822.53,” the complaint adds.
For breach of contract, the plaintiff is seeking damages of $141,822.53, plus costs to the extent permitted by applicable law
The plaintiff is represented by Jonathan P. Cawley of Zwicker & Associates, in Bensalem.
Allegheny County Court of Common Pleas case GD-18-001728
From the Pennsylvania Record: Reach Courts Reporter Nicholas Malfitano at email@example.com