Scanes & Routh Achieves Great Result In Loan Dispute

Scanes & Routh successfully defended a local business owner in a dispute regarding a loan.

The parties in the case agreed for a loan of money between them. The opposing party loaned money and our client agreed to repay the sum at a later date. When the time for repayment came, the opposing party alleged that he was entitled to twice the amount actually loaned.

When Scanes & Routh advised the opposing party that our client would repay the entirety of the amount loaned, plus reasonable interest, the opposing party refused and filed suit.

Scanes & Routh raised several defenses and motions to the opposing party’s attempt to collect an exorbitant amount of interest. With the help of a local retained expert, Scanes & Routh demonstrated that the amount of interest sought by the opposing party was usurious, that is, it exceeded the amount allowed by Texas law, and was therefore impermissible.

With Scanes & Routh’s strategic research and representation, the parties were able to successfully negotiate a resolution. Our client repaid all amounts owed plus a reasonable rate of interest on the loaned amount. The opposing party’s attempt to collect an unreasonable, usurious amount of interest were thwarted.

The business owner was thrilled by the result and is now able to focus on what is important, her business.