Money lender sues debtor

Tue, 13 Feb 2018 08:36:11 +0000

By CHINTU MALAMBO

A MONEY lender has sued an employee of the National Assembly in the Lusaka High Court for allegedly refusing to pay back K50, 000 borrowed in 2015 with accrued interest.  

According to a statement of claim filed in court, Ernest Chisongo, a certified money leader, sued Fanwell Banda alleging that the later had neglected to settle monies indebted.

Mr Chisongo claimed that through a written agreement made in September 2015, Mr Banda borrowed K12, 500 on the agreement that he would repay K16, 250. 00 at 30 % interest.

He alleged that he and Mr Banda further agreed that a 30 percent monthly interest was to be added for each defaulted month who have since accrued over K50, 000 as of January 2018.

Mr Chisongo claimed that despite several reminders, Mr Banda had failed and neglected to settle the money owned to him.

He indicated that upon Mr Banda’s neglect to pay, he had engaged a private debt collector to recover the said money and has been advised to sue.

“Upon Mr Banda’s failure to pay me, I contracted a private debt collector to recover the monies who recommended that I sue for the money,” Mr Chisongo claimed.

Mr Chisongo now seeks a court order that he be paid K50, 000 accrued interest, damages for breach of contract, cost and any other reliefs the court may deem fit.

He further claimed that Mr Banda’s behaviour prevented him from enjoying the proceeds of the money and therefore wants the court to grant him reliefs sought.