PHILADELPHIA – An Illinois finance firm is seeking to reconcile outstanding equipment finance lease costs allegedly owed by a Philadelphia church of nearly $30,000.
TBF Financial, LLC of Deerfield, Ill. filed suit in the Philadelphia County Court of Common Pleas on May 2 versus Zion Evangelical Lutheran Church (doing business as “Zion Lutheran Church Olney”), of Philadelphia.
In order to facilitate purchase of certain equipment, the plaintiff provides access to a revolving line of credit through an official agreement. The defendant was approved for an agreement and received the loan, the suit says.
The plaintiff claims the defendant defaulted in making payments on the loan and as of Oct. 23, 2015, an outstanding principal balance of $14,560.32 remained – along with interest of 18 percent per year (totaling $6,577.28 in damages as of April 26), late charges of $728.02, residual value of $1,997.93, sales tax of $873.62 and collection costs of $4,853.44.
According to the litigation, the defendant has refused to pay these costs.
For breach of contract, the plaintiff is seeking damages of $29,590.61, with continuing interest on the principal balance at the rate of 18 percent per year, plus costs in this matter.
The plaintiff is represented by Raymond P. Wendolowski Jr. of Bernstein-Burkley, in Pittsburgh.
Philadelphia County Court of Common Pleas case 180404904
From the Pennsylvania Record: Reach Courts Reporter Nicholas Malfitano at nickpennrecord@gmail.com