Couple claims breach of contract in Madison County suit
A couple is suing a Madison County man and woman who have allegedly failed to repay a $50,000 debt.
Jim Vanzo and Sandy Vanzo filed the complaint June 8 in Madison County Circuit Court against Timothy Stalcup and Tami Stalcup.
The Vanzos say they loaned the Stalcups $50,000 between February 2000 and September 2008. The couples allegedly signed a written agreement that required the Stalcups to repay the full amount in addition to 1% per annum interest.
The Vanzos say the Stalcups made one $1,000 interest payment but have refused to make any additional payments, despite repeated demands from the lenders.
The Vanzos accuse Timothy Stalcup and Tami Stalcup of breach of contract. They are asking each to pay $50,000 along with accrued interest, fees and court costs.
Attorney David K. Elliot of East Alton is representing the Vanzos.
Madison County Circuit Court Case No. 11-L-545