LUBBOCK, Texas (KCBD) - U.S. Marshals served a writ of execution to Bart Reagor on Thursday to collect $49 million owed to Ford Motor Credit.
In 2019, Lubbock’s federal district court determined Bart Reagor owed Ford Motor Credit $49,280,709.59, plus a post-judgment interest rate of 1.55 percent per annum from November 26, 2019, until paid.
On October 28, 2020, a writ of execution was issued to allow for Texas U.S. Marshals to collect the more than $49 million, plus more than $703,000 in interest.
According to the writ, on Thursday, November 19, 2020, Marshals attempted twice to find Reagor at his home with no success; once at 12:55 p.m., and again at 4:16 p.m.
The writ was finally served to Reagor at 5:09 p.m., at CVS Pharmacy at 3402 50th Street.
The writ states it was returned “Nulla Bona,” meaning no property was seized.
The writ states U.S. Marshals were given 90 days from October 28 to collect the debt from Reagor. If the judgment is not paid, there is an additional interest of $2,092.74 per day that will be owed.
Ford Motor Credit sued both Bart Reagor and Rick Dykes on August 17, 2018, after Reagor-Dykes defaulted on debt with Ford Motor Credit. Rick Dykes agreed to pay Ford more than $58 million when he settled in April of 2019.