All Articles Tagged "loan default"

Mary J. Blige and Hubby Sued Over Alleged $2.2 Million Bank Loan Default

November 29th, 2012 - By Tonya Garcia
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Mary J. Blige at the Glamour Women of the Year awards. Charles Sykes/Invision/AP

Signature Bank is suing Mary J. Blige and her husband Martin Isaacs over a $2.2 million loan that has defaulted. Isaacs took out the loan October 2011 and it went into default in July of this year, the suit says. The bank is also going after Mary Jane Productions, Blige’s production company. The bank want to get its money back plus $58,000 in fees. Blige’s people did not respond to Reuters inquiries for comment.

SheKnows digs a little deeper, finding that the bank tried to contact Blige in some way for a while before going the legal route. When the bank calls, pick up the phone!

Earlier this year, the The Mary J. Blige and Steve Stoute Foundation for the Advancement of Women Now, Inc. came under fire over allegations that the organization misused funds and didn’t live up to scholarship promises that were made. “I feel what they feel,” she said about the matter. “I don’t want them to suffer. I promised them something and I’m gonna deliver. Period.”

I have a soft spot for Mary, so I’m quick to believe that these issues have to do with the people she trusts to keep things in order. Someone (or a few someones) are dropping the ball and its her name that gets dragged through the mud because of it. What do you think?

Uptick in Student Loan Defaults

May 4th, 2011 - By TheEditor
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(Gannett News Service) — The number of people who aren’t paying back their student loans is on the rise, and the government is increasingly threatening to sue them for the money.  The amount of loan defaults that the Education Department has referred to Justice Department lawyers for possible legal action nearly doubled from 2009 to last year: There were 2,596 in 2009, and then 5,393 last year, Education Department figures show.

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