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GULFCO FINANCE CO. v. KING

No. 87-995.

542 So.2d 801 (1989)

GULFCO FINANCE COMPANY, Plaintiff-Appellant, v. Edward Ira KING, et ux, Defendants-Appellees.

Court of Appeal of Louisiana, Third Circuit.

Writ Granted June 30, 1989.

Attorney(s) appearing for the Case

Robert Clark, Vidalia, for plaintiff-appellant.

Dianne Mayo, Jonesville, for defendants-appellees.

Before FORET, DOUCET and YELVERTON, JJ.

DOUCET, Judge.

In October of 1985, defendants, Ira and Ruth King, renewed a loan with Gulfco Finance Company (Gulfco). Accordingly, defendants signed a promissory note in the amount of $28,233.24 which included finance charges, credit life insurance premium, and official fees. As security for the loan, defendants executed a collateral mortgage on Lot Number 36 of the Shady Acres Subdivision in Ferriday, Louisiana. The collateral...

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