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Ohio Neighborhood Finance, Inc. v. Rodney Scott

December 3, 2012

OHIO NEIGHBORHOOD FINANCE, INC. APPELLANT
v.
RODNEY SCOTT APPELLEE



APPEAL FROM JUDGMENT ENTERED IN THE ELYRIA MUNICIPAL COURT COUNTY OF LORAIN, OHIO CASE No. 09CVF01488

The opinion of the court was delivered by: Belfance, Judge.

Cite as Ohio Neighborhood Fin. Inc. v. Scott,

ss:

DECISION AND JOURNAL ENTRY

{¶1} Ohio Neighborhood Finance, Inc., doing business as Cashland, appeals the judgment of the Elyria Municipal Court. For the reasons set forth below, we affirm.

I.

{¶2} On December 5, 2008, Cashland agreed to loan Mr. Scott $500. The Customer Agreement signed by Mr. Scott set forth the "Payment Schedule" as "[o]ne payment in the amount of $545.16 due on 12/19/08 (Payment Date)." On May 28, 2009, Cashland filed a complaint against Mr. Scott, alleging that he had not repaid the loan. It sought a judgment of $570.16 against Mr. Scott along with 25% yearly interest.

{¶3} Mr. Scott did not respond to Cashland's complaint, and Cashland moved for default judgment. Following a hearing, the magistrate issued a decision, recommending that Cashland was only entitled to a judgment of $465 at 8% annual interest because the loan failed to comply with the Ohio Mortgage Loan Act by issuing a loan not permitted by the Act. Cashland objected to the magistrate's decision, but the trial court overruled its objections and entered the judgment recommended by the magistrate.

{¶4} Cashland has appealed, raising two assignments of error. Because the assignments of error are related, we address them together.

II.

ASSIGNMENT OF ERROR I

THE TRIAL COURT COMMITTED REVERSIBLE ERROR IN DETERMINING THAT THE OHIO MORTGAGE LOAN ACT ("MLA"), R.C. 1321.51, ET SEQ., DOES NOT APPLY TO THE LOAN AT ISSUE, AND THAT CASHLAND IS BARRED FROM COLLECTING INTEREST AND FEES ON THE LOAN AS AVAILABLE UNDER THE MLA.

ASSIGNMENT OF ERROR II

THE TRIAL COURT COMMITTED REVERSIBLE ERROR DETERMINING THAT CASHLAND VIOLATED THE OHIO MORTGAGE LOAN ACT ...


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