Preview
1 Christopher D. Mandarich SB 220693
Teona Pipia SB 343337
2 Martin Weingarten SB 201906
MANDARICH LAW GROUP, LLP ELECTRONICALLY
3 P.O. Box 109032 Chicago, IL 60610 FILED
877.285.4918 Superior Court of California,
Facsimile: 818.888.1260 County of San Francisco
4
Mandarich Law Group, LLP California Debt Collector License Number 10795-99.04/02/2024
5 Attorneys for Plaintiff: Velocity Investments, LLC Clerk of the Court
BY: JAMES FORONDA
Deputy Clerk
6 SUPERIOR COURT OF THE STATE OF CALIFORNIA
IN AND FOR THE COUNTY OF SAN FRANCISCO - LIMITED
7
8
Velocity Investments, LLC, Case No. CGC-24-613545
9 Plaintiff,
COMPLAINT FOR:
10 vs.
1. BREACH OF CONTRACT
11 Andrew Farrell, an individual; 2. OPEN BOOK ACCOUNT
12 and DOES 1 through 10 inclusive.
Defendant.
13 DEMAND: $10,742.68
14 Plaintiff alleges:
15 FACTS COMMON TO ALL CAUSES OF ACTION
16 1. Plaintiff is and at all times herein mentioned, Velocity Investments, LLC, and successor
17 in interest to original creditor, CROSS RIVER BANK.
18 2. Plaintiff is the only entity that purchased the debt after charge-off and its name and
19 address is as follows: Velocity Investments, LLC; 1800 Route 34N Suite 404A , Wall NJ 07719.
20 3. Plaintiff is a debt buyer, and is the sole owner of the debt at issue. Plaintiff's California
21 Debt Collector License Number 10229-99.
22 4. The charge-off creditor at the time of charge-off is Loan Asset Issuer LLC, Series 2021
23 M-1, P.O. BOX 1503, SAN CARLOS, CA 94070, and the account number associated with this
24 debt is XXXX0167.
25 5. Plaintiff is informed and believes that Defendant are individuals who currently reside
26 within the jurisdictional boundaries of the above entitled Court. Therefore, this Court is the
proper Court for trial of this action.
27
28
COMPLAINT-1 of 5
1
6. The name and last known address of the debtor as they appeared in the charge-off
2
creditor’s records prior to the sale of the debt is Andrew Farrell , 60 11TH ST NE 913 , ATLANTA,
3
GA 30309.
4
7. Plaintiff is unaware of the true names or capacities, whether individual, corporate,
5 associate or otherwise of the Defendant sued herein as DOES 1 through 10 inclusive, and therefore,
6 sued the Defendant by such fictitious names. Plaintiff will amend this Complaint to show their true
7 names and capacities once ascertained.
8 8. Plaintiff believes and at all times mentioned herein, each of the Defendant was, and is,
9 the agent, servant and employee, employer of each of the other Defendant, and also acted in the
10 capacity of and as agent of the other Defendant. Plaintiff also believes that the individual
11 Defendant, and each of them, are jointly and severally liable that the actions described herein
12 were taken as actions for the benefit of the Defendant's separate and/or community property.
13 9. Plaintiff believes that, for value received, Defendant and each of them, executed and
14 delivered a credit application to the original creditor, CROSS RIVER BANK or made such
15 application over the telephone or Internet. Pursuant to the aforementioned application, CROSS
16 RIVER BANK provided Defendant with a credit account, and granted use privileges on the same,
17 account number XXXX0167 (hereinafter “Account”).
18 10. Prior to the commencement of this action, the Account was assigned for value to the
19 Plaintiff and Plaintiff is its current holder.
11. Defendant agreed to comply with the terms governing the use of the Account, as it was
20
amended from time to time, including repaying CROSS RIVER BANK and any successors in
21
interest, for any charges on the Account including, but not limited to, charges for purchase of goods
22
and service and/or cash advances and balance transfers along with late charges, over limits charges
23
related thereto.
24
12. Defendant used the Account to make purchases and/or to take cash advances and/or to
25
make balance transfers. Each time the Defendant used the Account to purchase goods and services
26
and/or take cash advances and/or make balance transfers, Defendant reaffirmed their agreement to
27
28
COMPLAINT-2 of 5
1 repay CROSS RIVER BANK and its successors in interest for the amount of the purchase and/or
2 cash advances and/or balance transfers, along with such other charges as may be assessed pursuant
3 to the terms governing the Account.
4 13. The date of last payment on the subject account was on July 5, 2022.
5 14. Within the last four years, the Defendant failed to make payments as agreed on the
6 Account. Defendant has failed, refused and neglected to pay amounts due on the Account.
7 15. The debt balance at charge-off was $10,742.68, and upon information and belief there
8 is $0.00 in post charge off fees and there is $0.00 in post charge off interest.
9 16. Subsequent to charge-off, and after applying any and all applicable payments and
10 credits, the Defendant owes Plaintiff $10,742.68.
17. Although demand has been made upon said Defendant to pay said amount, no part has
11
been paid, and it is now due and owing.
12
18. Upon information and belief, CROSS RIVER BANK and successors in interest
13
including Plaintiff have duly performed all promises, conditions and agreements herein.
14
19. Plaintiff has complied with California Civil Code Section 1788.52.
15
20. Plaintiff has attached hereto as Exhibit A and incorporated herein by reference a copy
16
of Billing Statement and/or Loan File provided to the Defendant while the account was active,
17
demonstrating that the debt was incurred by the Defendant.
18
21. Plaintiff has attached hereto as Exhibit B and incorporated herein by reference a copy
19
of the Final Billing Statement and/or Transaction History.
20
22. Upon opening the Account with CROSS RIVER BANK, the Defendant agrees to
21
reimburse CROSS RIVER BANK, and hence Plaintiff as successor in interest for the costs related
22
to the collection of amounts owing on the Account. Plaintiff has been required to retain Mandarich
23
Law Group, LLP to pursue collection of the amount due hereunder.
24 FIRST CAUSE OF ACTION
25
(Breach of Contract)
26
23. Plaintiff refers to and incorporates paragraphs 1 through 22.
27
28
COMPLAINT-3 of 5
1
24. CROSS RIVER BANK extended a credit loan to the Defendant.
2
25. Defendant accepted the terms and conditions of the Account by Defendant use of the
3
Account to make purchases and/or to take cash advances and/or to make balance transfers.
4
26. Defendant have breached the terms and conditions governing the Account by failing to
5
pay amounts due and owing on the Account.
6
27. As a direct and proximate result thereof, Plaintiff has been damaged in the amount of
7
$10,742.68.
8
SECOND CAUSE OF ACTION
9
(Open Book Account)
10
11 28. Plaintiff refers to and incorporates paragraphs 1 through 27.
12 29. Within the past 4 years, Defendant and each of them became indebted in the amount of
13 the previously mentioned herein for a balance due on a book account for goods sold and delivered
14 and/or services rendered by CROSS RIVER BANK. Although demand has been made upon
15 Defendant, said amount of $10,742.68 has not been paid, and it is now due, owing and unpaid
16 including attorney’s fees from Defendant to Plaintiff as successor in interest.
17
18
19
20
21
22
23
24
25
26
27
28
COMPLAINT-4 of 5
1
2 WHEREFORE, Plaintiff prays for judgment against the Defendant as follows:
3
1. For the damages and money in the sum of $10,742.68,
4
5 2. For reasonable attorneys fees pursuant to statute;
6 3. For costs of suit incurred; and
7
4. For such other and further relief as the Court deems just and proper.
8
5. Plaintiff remits all damages in excess of the jurisdictional amount of this Court.
9
10
Dated: 03/19/2024 By: MANDARICH LAW GROUP, LLP
11
12
13
14 [X] Christopher D. Mandarich, Esq.
Attorneys for Plaintiff
15
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17
18
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20
21
22
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24
25
26
27
28
COMPLAINT-5 of 5
EXHIBIT A
EXHIBIT B
Static Loan Attributes Loan Name mob due_date Static Loan Attributes Origination Date
0167 1 1930-02-11 1930-02-11
0167 2 1930-02-11 1929-10-26
0167 3 1929-10-26 1929-07-15
0167 4 1929-07-15 1929-05-05
0167 5 1929-05-05 1929-01-04
0167 6 1929-01-04 1928-09-18
0167 7 1928-09-18 1928-04-18
0167 8 1928-04-18 1927-12-27
0167 9 1927-12-27 1927-08-28
0167 10 1927-08-28 1927-05-03
0167 11 1927-05-03 1926-12-29
0167 12 1926-12-29 1926-12-29
0167 13 1926-12-29 1926-12-29
0167 14 1926-12-29 1926-12-29
0167 15 1900-01-00 1900-01-00
0167 16 1900-01-00 1900-01-00
0167 17 1900-01-00 1900-01-00
0167 18 1900-01-00 1900-01-00
0167 19 1900-01-00 1900-01-00
0167 20 1900-01-00 1900-01-00
0167 21 1900-01-00 1900-01-00
0167 22 1900-01-00 1900-01-00
0167 23 1900-01-00 1900-01-00
0167 24 1900-01-00 1900-01-00
0167 25 1900-01-00 1900-01-00
0167 26 1900-01-00 1900-01-00
0167 27 1900-01-00 1900-01-00
0167 28 1900-01-00 1900-01-00
0167 29 1900-01-00 1900-01-00
Static Loan Attributes Origination Principal Daily Loan Snapshots Charged Off Date
44472 1900-01-00
44503 1900-04-16
44533 1900-04-11
44564 1900-03-11
44595 1900-04-30
44623 1900-04-17
44654 1900-05-31
44684 1900-04-21
44715 1900-04-29
44745 1900-04-26
44776 1900-05-03
44807 1900-01-00
44837 1900-01-00
44868 1900-01-00
44898 1900-01-00
44929 1900-01-00
44960 1900-01-00
44988 1900-01-00
45019 1900-01-00
45049 1900-01-00
45080 1900-01-00
45110 1900-01-00
45141 1900-01-00
45172 1900-01-00
45202 1900-01-00
45233 1900-01-00
45263 1900-01-00
45294 1900-01-00
45325 1900-01-00
Daily Loan Snapshots Charged Off Amount Daily Loan Snapshots Charged Off Interest
0 0
190.86 0
195.29 0
227.17 15
177.17 0
190 0
145.6 0
185.33 0
177.39 0
181.14 0
173.26 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
Daily Loan Snapshots Charged Off Principal Daily Loan Snapshots Borrower Fees Unpaid
0
44472 298.24
44503 298.24
44537 298.24
44568 298.24
44599 298.24
44623 298.24
44654 298.24
44684 298.24
44715 298.24
44745 298.24
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Static Loan Attributes First Payment Date principal_at_chargeoff interest_at_chargeoff
1900-01-00 0 0
1900-04-16 190.86 0
1900-04-11 195.29 0
1900-03-11 212.17 15
1900-04-30 177.17 0
1900-04-17 190 0
1900-05-31 145.6 0
1900-04-21 185.33 0
1900-04-29 177.39 0
1900-04-26 181.14 0
1900-05-03 173.26 0
1900-01-00 0 0
1900-01-00 0 0
1900-01-00 0 0
1900-01-00 0 0
1900-01-00 0 0
1900-01-00 0 0
1900-01-00 0 0
1900-01-00 0 0
1900-01-00 0 0
1900-01-00 0 0
1900-01-00 0 0
1900-01-00 0 0
1900-01-00 0 0
1900-01-00 0 0
1900-01-00 0 0
1900-01-00 0 0
1900-01-00 0 0
1900-01-00 0 0
fees_at_chargeoff
0
0
0
0
0
0
0
0
0
0
0
0
0
0
9860.81
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Preview
1 Christopher D. Mandarich SB 220693 Teona Pipia SB 343337 2 Martin Weingarten SB 201906 MANDARICH LAW GROUP, LLP ELECTRONICALLY 3 P.O. Box 109032 Chicago, IL 60610 FILED 877.285.4918 Superior Court of California, Facsimile: 818.888.1260 County of San Francisco 4 Mandarich Law Group, LLP California Debt Collector License Number 10795-99.04/02/2024 5 Attorneys for Plaintiff: Velocity Investments, LLC Clerk of the Court BY: JAMES FORONDA Deputy Clerk 6 SUPERIOR COURT OF THE STATE OF CALIFORNIA IN AND FOR THE COUNTY OF SAN FRANCISCO - LIMITED 7 8 Velocity Investments, LLC, Case No. CGC-24-613545 9 Plaintiff, COMPLAINT FOR: 10 vs. 1. BREACH OF CONTRACT 11 Andrew Farrell, an individual; 2. OPEN BOOK ACCOUNT 12 and DOES 1 through 10 inclusive. Defendant. 13 DEMAND: $10,742.68 14 Plaintiff alleges: 15 FACTS COMMON TO ALL CAUSES OF ACTION 16 1. Plaintiff is and at all times herein mentioned, Velocity Investments, LLC, and successor 17 in interest to original creditor, CROSS RIVER BANK. 18 2. Plaintiff is the only entity that purchased the debt after charge-off and its name and 19 address is as follows: Velocity Investments, LLC; 1800 Route 34N Suite 404A , Wall NJ 07719. 20 3. Plaintiff is a debt buyer, and is the sole owner of the debt at issue. Plaintiff's California 21 Debt Collector License Number 10229-99. 22 4. The charge-off creditor at the time of charge-off is Loan Asset Issuer LLC, Series 2021 23 M-1, P.O. BOX 1503, SAN CARLOS, CA 94070, and the account number associated with this 24 debt is XXXX0167. 25 5. Plaintiff is informed and believes that Defendant are individuals who currently reside 26 within the jurisdictional boundaries of the above entitled Court. Therefore, this Court is the proper Court for trial of this action. 27 28 COMPLAINT-1 of 5 1 6. The name and last known address of the debtor as they appeared in the charge-off 2 creditor’s records prior to the sale of the debt is Andrew Farrell , 60 11TH ST NE 913 , ATLANTA, 3 GA 30309. 4 7. Plaintiff is unaware of the true names or capacities, whether individual, corporate, 5 associate or otherwise of the Defendant sued herein as DOES 1 through 10 inclusive, and therefore, 6 sued the Defendant by such fictitious names. Plaintiff will amend this Complaint to show their true 7 names and capacities once ascertained. 8 8. Plaintiff believes and at all times mentioned herein, each of the Defendant was, and is, 9 the agent, servant and employee, employer of each of the other Defendant, and also acted in the 10 capacity of and as agent of the other Defendant. Plaintiff also believes that the individual 11 Defendant, and each of them, are jointly and severally liable that the actions described herein 12 were taken as actions for the benefit of the Defendant's separate and/or community property. 13 9. Plaintiff believes that, for value received, Defendant and each of them, executed and 14 delivered a credit application to the original creditor, CROSS RIVER BANK or made such 15 application over the telephone or Internet. Pursuant to the aforementioned application, CROSS 16 RIVER BANK provided Defendant with a credit account, and granted use privileges on the same, 17 account number XXXX0167 (hereinafter “Account”). 18 10. Prior to the commencement of this action, the Account was assigned for value to the 19 Plaintiff and Plaintiff is its current holder. 11. Defendant agreed to comply with the terms governing the use of the Account, as it was 20 amended from time to time, including repaying CROSS RIVER BANK and any successors in 21 interest, for any charges on the Account including, but not limited to, charges for purchase of goods 22 and service and/or cash advances and balance transfers along with late charges, over limits charges 23 related thereto. 24 12. Defendant used the Account to make purchases and/or to take cash advances and/or to 25 make balance transfers. Each time the Defendant used the Account to purchase goods and services 26 and/or take cash advances and/or make balance transfers, Defendant reaffirmed their agreement to 27 28 COMPLAINT-2 of 5 1 repay CROSS RIVER BANK and its successors in interest for the amount of the purchase and/or 2 cash advances and/or balance transfers, along with such other charges as may be assessed pursuant 3 to the terms governing the Account. 4 13. The date of last payment on the subject account was on July 5, 2022. 5 14. Within the last four years, the Defendant failed to make payments as agreed on the 6 Account. Defendant has failed, refused and neglected to pay amounts due on the Account. 7 15. The debt balance at charge-off was $10,742.68, and upon information and belief there 8 is $0.00 in post charge off fees and there is $0.00 in post charge off interest. 9 16. Subsequent to charge-off, and after applying any and all applicable payments and 10 credits, the Defendant owes Plaintiff $10,742.68. 17. Although demand has been made upon said Defendant to pay said amount, no part has 11 been paid, and it is now due and owing. 12 18. Upon information and belief, CROSS RIVER BANK and successors in interest 13 including Plaintiff have duly performed all promises, conditions and agreements herein. 14 19. Plaintiff has complied with California Civil Code Section 1788.52. 15 20. Plaintiff has attached hereto as Exhibit A and incorporated herein by reference a copy 16 of Billing Statement and/or Loan File provided to the Defendant while the account was active, 17 demonstrating that the debt was incurred by the Defendant. 18 21. Plaintiff has attached hereto as Exhibit B and incorporated herein by reference a copy 19 of the Final Billing Statement and/or Transaction History. 20 22. Upon opening the Account with CROSS RIVER BANK, the Defendant agrees to 21 reimburse CROSS RIVER BANK, and hence Plaintiff as successor in interest for the costs related 22 to the collection of amounts owing on the Account. Plaintiff has been required to retain Mandarich 23 Law Group, LLP to pursue collection of the amount due hereunder. 24 FIRST CAUSE OF ACTION 25 (Breach of Contract) 26 23. Plaintiff refers to and incorporates paragraphs 1 through 22. 27 28 COMPLAINT-3 of 5 1 24. CROSS RIVER BANK extended a credit loan to the Defendant. 2 25. Defendant accepted the terms and conditions of the Account by Defendant use of the 3 Account to make purchases and/or to take cash advances and/or to make balance transfers. 4 26. Defendant have breached the terms and conditions governing the Account by failing to 5 pay amounts due and owing on the Account. 6 27. As a direct and proximate result thereof, Plaintiff has been damaged in the amount of 7 $10,742.68. 8 SECOND CAUSE OF ACTION 9 (Open Book Account) 10 11 28. Plaintiff refers to and incorporates paragraphs 1 through 27. 12 29. Within the past 4 years, Defendant and each of them became indebted in the amount of 13 the previously mentioned herein for a balance due on a book account for goods sold and delivered 14 and/or services rendered by CROSS RIVER BANK. Although demand has been made upon 15 Defendant, said amount of $10,742.68 has not been paid, and it is now due, owing and unpaid 16 including attorney’s fees from Defendant to Plaintiff as successor in interest. 17 18 19 20 21 22 23 24 25 26 27 28 COMPLAINT-4 of 5 1 2 WHEREFORE, Plaintiff prays for judgment against the Defendant as follows: 3 1. For the damages and money in the sum of $10,742.68, 4 5 2. For reasonable attorneys fees pursuant to statute; 6 3. For costs of suit incurred; and 7 4. For such other and further relief as the Court deems just and proper. 8 5. Plaintiff remits all damages in excess of the jurisdictional amount of this Court. 9 10 Dated: 03/19/2024 By: MANDARICH LAW GROUP, LLP 11 12 13 14 [X] Christopher D. Mandarich, Esq. Attorneys for Plaintiff 15 16 17 18 19 20 21 22 23 24 25 26 27 28 COMPLAINT-5 of 5 EXHIBIT A EXHIBIT B Static Loan Attributes Loan Name mob due_date Static Loan Attributes Origination Date 0167 1 1930-02-11 1930-02-11 0167 2 1930-02-11 1929-10-26 0167 3 1929-10-26 1929-07-15 0167 4 1929-07-15 1929-05-05 0167 5 1929-05-05 1929-01-04 0167 6 1929-01-04 1928-09-18 0167 7 1928-09-18 1928-04-18 0167 8 1928-04-18 1927-12-27 0167 9 1927-12-27 1927-08-28 0167 10 1927-08-28 1927-05-03 0167 11 1927-05-03 1926-12-29 0167 12 1926-12-29 1926-12-29 0167 13 1926-12-29 1926-12-29 0167 14 1926-12-29 1926-12-29 0167 15 1900-01-00 1900-01-00 0167 16 1900-01-00 1900-01-00 0167 17 1900-01-00 1900-01-00 0167 18 1900-01-00 1900-01-00 0167 19 1900-01-00 1900-01-00 0167 20 1900-01-00 1900-01-00 0167 21 1900-01-00 1900-01-00 0167 22 1900-01-00 1900-01-00 0167 23 1900-01-00 1900-01-00 0167 24 1900-01-00 1900-01-00 0167 25 1900-01-00 1900-01-00 0167 26 1900-01-00 1900-01-00 0167 27 1900-01-00 1900-01-00 0167 28 1900-01-00 1900-01-00 0167 29 1900-01-00 1900-01-00 Static Loan Attributes Origination Principal Daily Loan Snapshots Charged Off Date 44472 1900-01-00 44503 1900-04-16 44533 1900-04-11 44564 1900-03-11 44595 1900-04-30 44623 1900-04-17 44654 1900-05-31 44684 1900-04-21 44715 1900-04-29 44745 1900-04-26 44776 1900-05-03 44807 1900-01-00 44837 1900-01-00 44868 1900-01-00 44898 1900-01-00 44929 1900-01-00 44960 1900-01-00 44988 1900-01-00 45019 1900-01-00 45049 1900-01-00 45080 1900-01-00 45110 1900-01-00 45141 1900-01-00 45172 1900-01-00 45202 1900-01-00 45233 1900-01-00 45263 1900-01-00 45294 1900-01-00 45325 1900-01-00 Daily Loan Snapshots Charged Off Amount Daily Loan Snapshots Charged Off Interest 0 0 190.86 0 195.29 0 227.17 15 177.17 0 190 0 145.6 0 185.33 0 177.39 0 181.14 0 173.26 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Daily Loan Snapshots Charged Off Principal Daily Loan Snapshots Borrower Fees Unpaid 0 44472 298.24 44503 298.24 44537 298.24 44568 298.24 44599 298.24 44623 298.24 44654 298.24 44684 298.24 44715 298.24 44745 298.24 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Static Loan Attributes First Payment Date principal_at_chargeoff interest_at_chargeoff 1900-01-00 0 0 1900-04-16 190.86 0 1900-04-11 195.29 0 1900-03-11 212.17 15 1900-04-30 177.17 0 1900-04-17 190 0 1900-05-31 145.6 0 1900-04-21 185.33 0 1900-04-29 177.39 0 1900-04-26 181.14 0 1900-05-03 173.26 0 1900-01-00 0 0 1900-01-00 0 0 1900-01-00 0 0 1900-01-00 0 0 1900-01-00 0 0 1900-01-00 0 0 1900-01-00 0 0 1900-01-00 0 0 1900-01-00 0 0 1900-01-00 0 0 1900-01-00 0 0 1900-01-00 0 0 1900-01-00 0 0 1900-01-00 0 0 1900-01-00 0 0 1900-01-00 0 0 1900-01-00 0 0 1900-01-00 0 0 fees_at_chargeoff 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9860.81 0 0 0 0 0 0 0 0 0 0 0 0 0 0