Bart Reagor Sued for Around $2.5 Million
Universal claims it loaned $3 million to Reagor-Dykes companies back in June of 2016, and that amount was increased to around $4.7 million a year later, according to KAMC News.
The repayment amount was to be paid back through a markup that Reagor-Dykes could charge on Universal products, which included vehicle service contracts, debt cancellation contracts, theft deterrent contracts, road hazard protection contracts, maintenance plan contracts and limited warranty contracts.
Court records say Bart Reagor signed a personal guaranty, meaning if Reagor-Dykes was unable to pay back the money then Bart Reagor would personally take responsibility.
Mr. Reagor has not yet filed his side of the story in court records.