Bank files suit over unpaid promissory note, credit card account
Associated Bank filed suit against Arthur and Bonnie Kotsybar and Chocolates N' Amour in Madison County Circuit Court Feb. 21, alleging the defendants failed to make payments on two promissory notes and a Visa account.
According to the bank, on Aug. 31, 2004, the defendants executed a promissory note and Commercial Security Agreement in which they agreed to make monthly payments.
Associated Bank claims the loan has been defaulted and as of Feb. 13, $19,631.35 in principal and interest is owed.
The bank also claims the defendants defaulted on a Visa business card and as of Feb. 13 owe them $21,513.99.
The bank further alleges the defendants defaulted on an Aug. 31, 2006 loan. As of Feb. 13, Associated claims $76,952.87 is owed.
Associated Bank is seeking a judgment of $118,098.21 plus interest, $5,000 in attorney fees and costs of the suit.
The bank is represented by J. Gregory Scott of Heavner, Scott, Beyers & Mihlar of Decatur.
The case has been assigned to Circuit Judge Nicholas Byron.
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