Wells Fargo seeks to recover $500K loan

David Yates Jan. 20, 2011, 8:28am

Wells Fargo Bank has filed suit against Beaumont resident Jason Whitney, seeking to recover the balance due on a $500,000 loan.

The suit was filed Jan. 13 in Jefferson County District Court.

Court papers show Wells Fargo executed a $500,000 revolving line of credit with Whitney. The note matured on Sept. 1, 2009, but Whitney "had failed to pay the balance of the note."

The lender demanded Whitney pay the debt owed on Oct. 15, 2009, and again on Nov. 10, 2009, but did not receive a response.

Wells Fargo is suing to recover the $500,000 note, plus $31,517.33 in accrued interest.

The lender is represented by Beaumont attorney Terry Wood.

Judge Donald Floyd, 172nd District Court, has been assigned to the case.

Case No. E189-160

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