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United States of America v. Brenda Beam

May 17, 2012

UNITED STATES OF AMERICA, PLAINTIFF,
v.
BRENDA BEAM, DEFENDANT.



The opinion of the court was delivered by: Mae A. D'Agostino, U.S. District Judge:

MEMORANDUM-DECISION AND ORDER

I. INTRODUCTION

On January 18, 2012, plaintiff United States of America ("plaintiff") commenced the above captioned action alleging that defendant defaulted on three promissory notes. Presently before the Court is plaintiff's motion for entry of a default judgment against defendant. (Dkt. No. 7). The Court has jurisdiction over this suit pursuant to 28 U.S.C. § 1345.

II. BACKGROUND

The Court has taken the facts set forth below from plaintiff's complaint and the Certificate of Indebtedness from the United States Department of Education executed on July 26, 2011.*fn1

Defendant Brenda Beam is an individual and resident of New York. On July 27, 1995 and September 16, 1995, defendant executed two promissory notes to secure Direct Loans from the U.S. Department of Education through the William D. Ford Federal Direct Loan Program. On July 28, 1995 and October 11, 1995, the loans were disbursed in two payments, $2,000.00 and $625.00 with interest accruing at a rate of 3.16 % per annum. On April 3, 2007, the Department demanded payment according to the note and defendant defaulted. The Certificate provides that, as of July 26, 2011, defendant owes the following:

Principal $2,666.55

Interest $723.63 Total $3,390.18 The Certificate also provides that, "[i]nterest accrues on the principal shown here at a rate of $.23 per day".

On September 18, 1995, plaintiff executed a promissory note to secure a loan under the Federally-funded National Defense/Direct Student Loan, now Perkins Student Loan, program for $500.00 with an interest rate of 5.00% per annum. On July 2, 2007, defendant defaulted. The Certificate provides that, as of July 26, 2011, defendant owes the following:

Principal $500.00

Interest $233.09 Total $733.09 The Certificate also provides that, "[i]nterest on the principal shown here at a rate of $.07 per day".

On January 18, 2012, plaintiff filed the complaint (Dkt. No. 1) alleging that defendant owes debt as follows:

FIRST CAUSE OF ACTION

Current Principal $2,666.55 Current Capitalized Interest Balance and Accrued Interest $768.40 ...


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