Texas education finance group looking to recoup $16K in loan funds from local defendant

By Nicholas Malfitano | Feb 27, 2018

PHILADELPHIA – An educational loan finance group based in Texas is seeking reconciliation of an outstanding loan in excess of $16,000 from a Philadelphia defendant in state court.

Acapita Education Finance Corp. of Waco, Texas filed suit in the Philadelphia County Court of Common Pleas on Feb. 19 versus Andre Glenn of Philadelphia.

On Nov. 22, 2002, the defendant entered into, executed and delivered to plaintiff’s predecessor in interest a private loan credit application in which s/he promised to repay the amount of $10,000. The defendant was subsequently approved and received $10,000, before the promissory note was subsequently acquired by plaintiff Acapita Education Finance Corp. through merger.

“Thereafter, the defendant defaulted under the terms of the note by, among other things, the defendant’s failure to pay all sums as and when due thereunder. The plaintiff made demand upon defendant for payment in full of the balance due to the plaintiff. The defendant has failed, refused or neglected to fully pay the balance due to the plaintiff. With accrued interest, the defendant now owes the plaintiff the sum of $16,007.93. Pursuant to the note, plaintiff is entitled to collect reasonable attorney’s fees up in the event of default,” the suit states.

For breach of contract, the plaintiff is seeking damages of $16,007.93 due on the account, reasonable attorney’s fees, costs and any other relief the Court deems just and appropriate. Alternatively, for unjust enrichment, the plaintiff is seeking identical damages (minus attorney’s fees).

The plaintiff is represented by Demetrios H. Tsarouhis of Tsarouhis Law Group, in Allentown.

Philadelphia County Court of Common Pleas case 180201689

From the Pennsylvania Record: Reach Courts Reporter Nicholas Malfitano at nickpennrecord@gmail.com

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