CHARLESTON -- A Clendenin couple is suing JPMorgan Chase Bank after it claims the bank participated in unlawful debt collection and breached its fiduciary duty.
On Aug. 31, 1994, Joey E. Gibson and Cindy L. Gibson and the defendant entered into a purchase money loan secured by a home in an original maximum amount of $64,000, which included an escrow for property taxes, according to a complaint filed May 13 in Kanawha Circuit Court.
The Gibsons claim between 1994 and 2008 they made regular monthly payments on the loan, but in December 2010, they discovered their home was sold at a tax sale due to the defendant's failure to transfer the funds paid by them for property taxes.
The defendant breached its fiduciary duty in the handling of the loan contract, according to the suit.
The Gibsons are seeking compensatory and punitive damages. They are being represented by Daniel F. Hedges.
The case has been assigned to Circuit Judge James C. Stucky.
Kanawha Circuit Court case number: 11-C-786