Suit filed over unpaid $50K loan

By The Madison County Record | Aug 11, 2014


A woman who loaned $50,000 to a couple who were going to buy an Alton property is now suing because they allegedly haven't made a payment.

Barbara A. Fischer filed a lawsuit July 31 in the Madison County Circuit Court against Joel and Rose Lamb, citing default on the loan.

The lawsuit states that Fischer loaned the Lambs $50,000 on May 23, 2008, for property at 2637 Central Ave., Alton at a 3.5 percent interest rate. The loan was to be paid by Dec. 23, 2008, the complaint states. The Lambs haven't paid anything toward the note and now owe $60,500 with interest, according to the complaint.

Fischer is seeking damages of $60,500 and any other relief deemed proper. She is represented by attorney Philip Lading of Edwardsville.

Madison County Circuit Court Case No. 14-L-1050.

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