Collecting on Promissory note
I loaned money to a company in Nevada. I received a
promissory note which was unsecured. There was no
default clause, just a promise to pay principle in 90
days with 20% interest per month for three months.
The amount of $10,000. How do I collect on this note.
Can I file papers myself or do I need an attorney?
1 Answer from Attorneys
Re: Collecting on Promissory note
You would have to file a suit or if you are lucky begin collection by an attorney letter.
There are many questions though.
When was the note executed?
Has any money been paid?
Is the note personally guaranteed and what is the business entity?
I don't mean to be facetious, but the question of can you do it yourself is like "Can I overhaul a transmission myself?" It depends on your knowledge of legal procedure, as the action would likely have to be filed in District Court.
Paul A. Sherman