Quaid Sues Over Old Loan

The veteran actor is suing a New York man for failing to repay a $70,000 loan from seven years ago

From Dennis Quaid's vantage point, it's time to collect.

The veteran actor has filed a lawsuit against a New York man for failing to repay a $70,000 loan from seven years ago.

Per the complaint, filed in Los Angeles Superior Court on July 29, Quaid claimed that he gave the hefty sum to the defendant, Steven Mendelson, on May 1, 2001. He charged him 6 percent annual interest on the unpaid principal balance that was secured by 200,000 shares of stock.

The official deadline for full repayment of the note was scheduled for Nov. 2, 2003, but when Mendelson failed to pony up the dough, the suit contends that he was then in default and therefore obligated to pay the entire principal balance plus interest that had accrued.

Five years on, the Big Apple native still hasn't come through and has refused to give the thesp even one penny.

Quaid is seeking unspecified compensatory damages.

When he's not looking out for his pocketbook, the Oscar nominee has been busy filming a trio of films due out in 2009.

Among them is Legion, a biblical thriller about a group of strangers stranded in a remote truck stop diner in the Southwest who discover the diner's young waitress is pregnant with the messiah. He recently wrapped production on next summer's would-be blockbuster, G.I. Joe: Rise of Cobra, in which he plays General Hawk. And he's currently filming Pandorum, a sci-horror flick about a pair of astronauts who wake up on their spaceship to find they have no memory of their mission or their identities.