How do I enforce a promissory note that the borrower has broken?
I need to talk to a lawyer regarding a promissory note that was broken by the borrower. A friend ran a scam taking $10,000 for hockey tickets he never had and admitted to the scam. He signed a promissory note to pay us back for the fraud and is not following the payments. I need to know if this promissory note is considered "legit" due to the fact it was sent via email with a typed signature and my options for the next step.
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The note is enforceable. It has specified payment dates.
It does not require a demand letter first before you file suit to enforce it. However, most creditors do send a demand letter first to the borrower to demand payment in full before filing suit.
You will need to file suit where the borrower is located. You will file suit in the county where he resides.
You have to file a complaint and a summons in that county. Your claim is greater than small claims so you will need to file suit in County Court. You will need to pay a filing fee to file suit as well.
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I need to talk to a lawyer regarding a promissory note that was broken by the borrower.
Lexi, Chatbot
I'm sorry to hear about the issue with the promissory note. Can you tell me more about the terms of the promissory note?
A friend ran a scam taking $10,000 for tickets he never had and admitted to the scam. He signed a promissory note to pay us back for the fraud and is not following the payments. I need to know if this promissory note is considered "legit" due to the fact it was sent via email with a typed signature and my options for the next step.
Lexi, Chatbot
Have you attempted to communicate with the borrower about the broken promissory note?
Yes. He is not paying it.
Lexi, Chatbot
Is there anything else the Lawyer should know before I connect you? Rest assured they'll be able to help with your broken promissory note.
No.
Lori
Hello. Welcome to AskaLawyer. Let me see if I can assist. My name is Lori and I am on live with you today. This is not an automated response.
I am an attorney expert on AskaLawyer with over 25 years’ experience. I am sorry to hear about your situation. Please be patient if I do not respond right away as I may be typing my responses or working on another customer’s answer.
- What city/state is the borrower located in?
- What specific terms were outlined in the promissory note regarding repayment, such as interest rates or payment deadlines?
- Have you considered any alternative dispute resolution methods, such as mediation, before pursuing legal action?
Fairfax, VA
I'll see if I can attach it.
(File attached)
He has made 1 payment in Jan.
Lori
Would you like a document review of the document today?
The review of documents is part of the Premium Services, which requires an additional fee. I am happy to assist with the review, comments, and suggestions on the document.
Sure. I just need to know if I can sue him for breaking this. And if it is not legit, then contact the authorities.
Lori
Thanks for the information. I am happy to review for a fee under Premium Services. This is for review, comments, and suggestions on the document.
Please let me know if you wish to proceed and I will send the Premium Services Request.
Sure! Is it a one-time fee?
Lori
Yes.
Then yes, I'd like to proceed. I need to know if it is legit and how to move forward legally to get my money back.
Lori
Got it. Reviewing now.
Lori
The note is enforceable. It has specified payment dates.
It does not require a demand letter first before you file suit to enforce it. However, most creditors do send a demand letter first to the borrower to demand payment in full before filing suit.
You will need to file suit where the borrower is located. You will file suit in the county where he resides.
You have to file a complaint and a summons in that county. Your claim is greater than small claims so you will need to file suit in County Court. You will need to pay a filing fee to file suit as well.
Perfect.
Lori
Thank you for allowing me to assist you today. Have a nice day!
Thanks for using AskaLawyer. You are welcome to post any new questions you may have for me or another Legal Expert.
Thank you!
Lori
Very welcome.
Lori
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