Lefkovitz & Lefkovitz
Nashville Office 615-686-2279 Cookeville Office 931-400-2218
Serving all of Middle Tennessee's Bankruptcy Needs

Man says bank caused his bankruptcy

A man who is now living in Jackson, Tennessee, is fighting in court to keep from having to pay around $1.3 million for a loan that he took out for $800,000. He took that business loan out before the recession, using it to help his trucking company, but he had to declare bankruptcy when the economy declined.

Now, the lender is trying to get that money back, saying he did not pay on the initial $800,000. The lender, which is Transportation Alliance Bank, Inc., also said that he now owed more than $900,000 on the loan, and that other fees brought it up to a total nearing $1.3 million.

The man, however, says that he did make his payments for as long as he could, before the recession.

He has also taken things a step further and decided to sue the lender, along with a few connected businesses. He filed that lawsuit in Tennessee, and it claims that they used both racketeering and fraud. According to the former business owner, they took over too much control regarding his line of credit, his insurance, his access to fuel, and a few other key parts of the business.

Because of this, he has actually said that the lender caused him to go bankrupt. On those grounds, he does not want to pay the amount that they are asking for.

If you're thinking of declaring bankruptcy, it's important to know exactly what debt it can discharge and how financial issues may be handled in the future, even after the filing process is over and you have tried to put things behind you.

Source: Daily Comet, "Former Houma resident ordered to pay $900,000 settlement," Maki Somosot, June 09, 2015

No Comments

Leave a comment
Comment Information

We Look At Your Case From Every Angle To Find The Solution That Is Right For You

Bankruptcy help for everyone, from the most simple to the most complex cases.

Call Us Now To Schedule A Free Initial Consultation

Contact our Nashville office at 615-686-2279 or our Cookeville office at 931-400-2218. You can also reach us via email to set up a time to talk to us about your debts.

Get Legal Help Now

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Nashville Office
618 Church Street, Suite 410
Nashville, TN 37219

Phone: 615-686-2279
Fax: 615-255-4516
Nashville Law Office Map

Cookeville Office
312 East Broad Street, Suite A
Cookeville, TN 38501

Phone: 931-400-2218
Fax: 931-526-6244
Cookeville Law Office Map

Back To Top