Man claims debtor wrongly attempting to foreclose on commercial property

A Jefferson County man claims his debtor is wrongly attempting to foreclose on his commercial business, despite $20,000 in payments he has made.  

Nathaniel Tarver filed a lawsuit Sept. 28 in Jefferson County District Court against Velocity Commercial Capital.

Tarver claims Velocity lent him money for commercial property. Tarver was repaying the loan at $4,000 per month, according to the complaint.

Later, Tarver received a letter from Velocity, saying that he owed it $22,181, the suit states. Tarver attempted to pay the debt to Velocity, but the company claims Tarver’s check was returned for insufficient funds, the complaint says.

“Plaintiff admits that a check given was returned for insufficient funds, but that he did provide sufficient funds on a later date,” the suit states. “Plaintiff has made payments in the total amount of $20,000 between August 17, 2012, and September 10, 2012, which was more than enough to cover the original amount demanded of $14,181.”

Even though Tarver claims he has paid the requested funds, Velocity is now attempting to foreclose on Tarver’s commercial property, according to the complaint.

Tarver alleges breach of contract and misrepresentation against Velocity.

Tarver is seeking a temporary restraining order against Velocity prohibiting it from foreclosing on his property and other relief the court deems just.

John Pat Parsons and Michael J. Lindsay of Lindsay, Lindsay and Parsons in Beaumont will be representing him.

Judge Gary Sanderson, 60th District Court, has been assigned to the case.

Case No. B193-235