Jolt on loan spurs lawsuit by shocked...

Jolt on loan spurs lawsuit by shocked borrower

There are 58 comments on the Akron Beacon Journal story from Apr 29, 2008, titled Jolt on loan spurs lawsuit by shocked borrower. In it, Akron Beacon Journal reports that:

Dick Wright said he was numb with shock when he listened to his voice mail in the spring of 2005 and learned that his bank wanted a $300,000 business loan repaid in 90 days.

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City Worker

Dayton, OH

#42 May 1, 2008
Something Wicked wrote:
<quoted text>
The Abj tried to get US Banks' side; no one would come to the plate and issue a statement.
Which leads that much more creedence to Mr Wright's case(regardless what some posters may think of him personally).
Yes I said it

Charleston, WV

#43 May 1, 2008
Hey Mr want a be basketball player. Did my statement sound like it was three people removed?

ABJ has one side and that is of Wright. A bank cannot and I repeat CANNOT call a loan UNLESS the signer has not complied with the terms of the loan. PERIOD!!!!!

So do you think wright was in compliance? If you believe he was you are fool.

A major bank can give two squirts what a rag like ABJ has to say its meaningless.

It shows your ignorance on business practice but does show your position on people's accountability. Banks have rules when they lend commercial loans and if the bank believe that there is fraud or misleading financials they will call the loan.

Guess what Mr want a be they called it!!!!!!
lbj23 wrote:
<quoted text>
Wow I'm not even sure how any of that information is relevent to this article. To write a comment like that is asinine. Hey guess what!I know a guy who knows a guy, who knows another guy and he said he knows first hand that you are a moron. Cut the horse shit and write something that makes you sound some what intellegent.
City Worker

Dayton, OH

#44 May 1, 2008
Yes I said it wrote:
Hey
Banks have rules when they lend commercial loans and if the bank believe that there is fraud or misleading financials they will call the loan.
Guess what Mr want a be they called it!!!!!!
<quoted text>
So all it takes is a bank to "think" something is misleading to call in a loan. Sounds way too nebulous, arbitrary and open to abuse---which is why Mr Wright is suing.
Yes I said it

Charleston, WV

#45 May 1, 2008
Just stay a city worker!!!!! You dont have the knowledge to do much else. Bankers just dont sit around and say " Hey we dont have any excitment in our lives lets go screw with some company"
Just to educate you a little bit while your sitting around and soaking up our tax dollars. There is a process to call a loan. A bank has to give notice for you to cure what they perceive as a problem.
O sorry cure means to fix in case you dont have a dictionary close by.
As I stated in my first post Wright was not complying with the bank requests period end of story.
Its amazing how ignorant people are on these posts. Its always the poor little man that gets screwed not the fact that the idiot made his own troubles and then wants to cry about it or have someone bail him out.

Gotta love ignornace!!!
City Worker wrote:
<quoted text>
So all it takes is a bank to "think" something is misleading to call in a loan. Sounds way too nebulous, arbitrary and open to abuse---which is why Mr Wright is suing.
Love Hudson

Park Ridge, NJ

#46 May 1, 2008
Yes I said it wrote:
Just stay a city worker!!!!! You dont have the knowledge to do much else. Bankers just dont sit around and say " Hey we dont have any excitment in our lives lets go screw with some company"
Just to educate you a little bit while your sitting around and soaking up our tax dollars. There is a process to call a loan. A bank has to give notice for you to cure what they perceive as a problem.
O sorry cure means to fix in case you dont have a dictionary close by.
As I stated in my first post Wright was not complying with the bank requests period end of story.
Its amazing how ignorant people are on these posts. Its always the poor little man that gets screwed not the fact that the idiot made his own troubles and then wants to cry about it or have someone bail him out.
Gotta love ignornace!!!
<quoted text>
You certainly seem to be very emotional about this topic and seem to know alot. Does the bank know you're editorializing on company time?
City Worker

Dayton, OH

#47 May 1, 2008
Yes I said it wrote:
Just stay a city worker!!!!! You dont have the knowledge to do much else. Bankers just dont sit around and say " Hey we dont have any excitment in our lives lets go screw with some company"
Just to educate you a little bit while your sitting around and soaking up our tax dollars. There is a process to call a loan. A bank has to give notice for you to cure what they perceive as a problem.
O sorry cure means to fix in case you dont have a dictionary close by.
As I stated in my first post Wright was not complying with the bank requests period end of story.
Its amazing how ignorant people are on these posts. Its always the poor little man that gets screwed not the fact that the idiot made his own troubles and then wants to cry about it or have someone bail him out.
Gotta love ignornace!!!
<quoted text>
So the only real question is---do you work for USBank itself, or for some other bank with similar predatory lending policies? And no wonder so many people dislike banks---if the bankers they deal with are like yourself, and treat their customers as adversaries.
AppleJack

Avon Lake, OH

#48 May 1, 2008
Just a note... the $35 is a handling fee - same cost to deal with the paperwork regardless of how much the overdraft is.
San Antone Bill

San Antonio, TX

#49 May 1, 2008
horningpjh1 wrote:
Wright was not wronged. As a retired bank officer, he knew & knows what he signed.He needs to kick his memory for reality of the situation.
How does this apply to their ethical conduct. I don't begin to understand why a bank would call for the full payment on a credit loan when the owner had never missed a payment. Did they track his deposits and figure he was getting ready to hat up and move to BFE. What are the signs a bank uses to make the determination to call in the debt or could it be the bank itself is low on its cash flow. Hmm.

It sounds like a bank could do this to all business enterprizes. Just to take and sell the property from under the owner. Where is Gene Autry when you need him. It sure seems like a one way deal that should be monitored by someone for bank corruption. I understand that no one twisted this mans arm to sign a contract but to recall a loan on a whim doesn't seem ethical. What was their original cause when they asked for the whole amount that put him at not being able to meet the note. Paying 5-10 K a month is one thing but 300K why did they ask for the 300K when he had never missed a payment. No Savay.
tired of it

Akron, OH

#50 May 1, 2008
mad and madder wrote:
I know it angers me to read this article but I don't know if I'm more angry at US Bank or the jerk judge who so quickly sided with the bank against Mr Wright. When you have a business guy who is doing everything by the book what court is supposed to protect him? This is a matter of a very greedy bank with very unethical employees going to a judge who is making a handsome six figure salary and who just wants to keep a tidy docket so gets rid of cases as fast as possible without taking the time to review it properly. Mr. Wright has the right to be angry with several parties involved in this matter. Give him his day in court and let a jury decide.
How long would it take you to demand repayment of a loan you made with the stipulation that you could call in your loan in full at any time you wished with the agreement of the borrower? If you were cash strapped, and someone owed you a hundred grand, I believe it would be remiss of you to let your buisness go down the tubes instead of enforcing the contract you both agreed to to collect what is rightfully yours. Nobody is safe in this world anymore. I'm sure the bank needs to raise capital and what better place to start than with the people who owe you money?...All BUISNESS lines of credit are this way. I'm not so sure about mortgages, but ALL buisness lines of credit are structured the same to primarily protect the bank. Would it be different if the guy missed a couple payments because buisness is just not there? should the bank wait for default? They thought not. How can the bank be faulted for making sound business decisions?
Yes I said it

Charleston, WV

#51 May 1, 2008
First off Im not a banker Im a business owner that understands the financial institution and the rules. I like how you say predatory...just what I would expect from a union city worker. You deserve everything and dont have to abide by anything. And if there is an situation your response is" Not my fault its the big bad establishment somone save me or Im suing."

Its time for educated to stand up and quit caving to the ignorance. As Darwin said its the survival of the fittest. And as soon as educated stand up and say no more handouts and no more bailing out of stupidity YOU my dear friend will have a rude awakening.
City Worker wrote:
<quoted text>
So the only real question is---do you work for USBank itself, or for some other bank with similar predatory lending policies? And no wonder so many people dislike banks---if the bankers they deal with are like yourself, and treat their customers as adversaries.
Yes I said it

Charleston, WV

#52 May 1, 2008
And just one more thing if you dont like banks DONT USE THEM.

I just got a new refridgerator the box is like new and there is a nice piece of land right under the Y bridge... rent is cheap...

Make sure you use the elevator at the top of the bridge....its a quick trip
City Worker wrote:
<quoted text>
So the only real question is---do you work for USBank itself, or for some other bank with similar predatory lending policies? And no wonder so many people dislike banks---if the bankers they deal with are like yourself, and treat their customers as adversaries.
San Antone Bill

San Antonio, TX

#53 May 1, 2008
Yes I said it wrote:
First off Im not a banker Im a business owner that understands the financial institution and the rules. I like how you say predatory...just what I would expect from a union city worker. You deserve everything and dont have to abide by anything. And if there is an situation your response is" Not my fault its the big bad establishment somone save me or Im suing."
Its time for educated to stand up and quit caving to the ignorance. As Darwin said its the survival of the fittest. And as soon as educated stand up and say no more handouts and no more bailing out of stupidity YOU my dear friend will have a rude awakening.
<quoted text>
Oh, I see just like Washington Mutual when they got sucked into buying all those mortgages in California before the home owners went bust. Or like when Chrysler almost went under and the Government bailed them out or when the government sends aid all over the world that is other than humanitary. They send money to Mexico and Russia. What about wefare.

You mean that kind of survival of the fittest. HUH. Makes sense. Yeah right.
Yes I said it

Charleston, WV

#54 May 1, 2008
Yea that makes sense. The Government should have said Chrysler sorry your on your own.

And what would that have done? Huh Mr Bill Do you know the ramifications behind if Chrysler folds??? Cmon I know you can come up with the answer.

The trickle down effect would be astinomical. How many people would be out of work???? Cmon think about it. How much tax dollars would be lost....? The economy of scale of a subsidy the govenment gave is miniscual to the potential loss of jobs and taxes that would have been lost.

Stick to your Saturday Night Live skit Mr Bill and think your comments through.
San Antone Bill wrote:
<quoted text>
Oh, I see just like Washington Mutual when they got sucked into buying all those mortgages in California before the home owners went bust. Or like when Chrysler almost went under and the Government bailed them out or when the government sends aid all over the world that is other than humanitary. They send money to Mexico and Russia. What about wefare.
You mean that kind of survival of the fittest. HUH. Makes sense. Yeah right.
Yes I said it

Charleston, WV

#55 May 1, 2008
LOL thats good..No dont tell
Love Hudson wrote:
<quoted text>
You certainly seem to be very emotional about this topic and seem to know alot. Does the bank know you're editorializing on company time?
Love Hudson

Park Ridge, NJ

#56 May 1, 2008
Yes I said it wrote:
And just one more thing if you dont like banks DONT USE THEM.
I just got a new refridgerator the box is like new and there is a nice piece of land right under the Y bridge... rent is cheap...
Make sure you use the elevator at the top of the bridge....its a quick trip
<quoted text>
Man you are nasty and a little out of touch. Have you seen the cost of those Testa properties at the Y bridge? I hope you never need a city worker like a firefighter or a police officer or any of those sorts of CITY WORKERS! If you really know so very much about all of this why don't you call the US Bank attorney and feed them a little data? City Worker I apologize for this ignorance, we all need and appreciate you.

Since: May 08

Birmingham, AL

#57 May 1, 2008
Yes I said it wrote:
First off Im not a banker Im a business owner that understands the financial institution and the rules. I like how you say predatory...just what I would expect from a union city worker. You deserve everything and dont have to abide by anything. And if there is an situation your response is" Not my fault its the big bad establishment somone save me or Im suing."
Its time for educated to stand up and quit caving
to the ignorance. As Darwin said its the survival of the fittest. And as soon as educated stand up and say no more handouts and no more bailing out of stupidity YOU my dear friend will have a rude awakening.
<quoted text>
Business owner!? ha I'd love to here what business your running.
Brian

College Park, MD

#58 May 7, 2008
Well, we've certainly have got Mr. Wright's side of the dispute. Why has US Bank not commented on this story?
Yasir

Los Angeles, CA

#59 May 14, 2008
The bank is in the wrong. I have actually talked to Mr. Wright and he is a honest man. The bank just abused its contract.
The bank did have a right to call the loan, but since he was working with them to pay it off (which he did), they were just plain wrong.
The bank officers who have commented here need a lesson in ethics and get their bearing right.

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