Professional Collection Consultants v. Hanada
California Court of Appeal
1Opinion of the Court
Opinion
SONENSHINE, J.
Professional Collection Consultants (Professional) appeals from a judgment entered in favor of Bobby K. Hanada and Linda B. Hanada (Hanadas) after the court determined its suit was time-barred.
I
In April 1990, Farmers & Merchants Bank (FMB) loaned the Hanadas $75,000 secured by a six-month note maturing October 16, 1990. That same month, the Federal Deposit Insurance Corporation (FDIC) was appointed receiver for FMB. Thereafter, the Hanadas failed to repay the loan; and in December 1992, the FDIC transferred it to First Southwestern Financial Services who later assigned it…
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