A Madison County financial organization is suing a couple for breach of contract in an alleged 2012 loan default.
AirForce Federal Credit Union filed a lawsuit on July 16 in Madison County Circuit Court against Kara Diane Pettus and Charles Anthony Pettus of Collinsville alleging failure to honor a May 2012 contract to finance the defendants’ vehicle purchase.
According to the filing, the parties entered into a LoanLiner Loan and Security Agreement on or about May 23, 2012, for the purchase of a 2006 Dodge Viper SRT-10, with the defendants agreeing to make payments as per the contract terms.
AirForce Federal Credit Union alleges that while it has fulfilled all its obligations, the defendants have defaulted on their loan and that they owe the sum of $39,952.01 plus interest at 8.4 percent per year from May 20, 2015.
AirForce Federal alleges that it attempted to repossess the vehicle but the defendants refused to cooperate.
Charging the couple with breach of contract and seeking repossession of the property, the credit union is seeking the actual sum plus reasonable attorneys’ fees and costs. The credit union is represented by Brad Pierce of Kramer & Frank in St. Louis, Missouri.
Madison County Circuit Court case number 15-L-904.