Garrett v. GAC FINANCE CORPORATION

Bell, Chief Judge.

Plaintiff, a licensee under the Industrial Loan Act (Code Ann. § 25-301 et seq.) brought suit on an installment note for balance due in the amount of $722.75 principal plus attorney fees. The note provided for 18 monthly installment payments of $46 per month for a total of $828. In the ninth month of the contract the plaintiff in accordance with provisions of the note, accelerated the entire unpaid balance because of defendants’ default in making payments due. The evidence at trial revealed that at the time of acceleration there was a balance due of $748.90 plus $6.40 late…