Legal Question in Business Law in California

I made a $350,000. business loan and we wrote up a contract. The owner is not abiding by his contract. He makes payments but has been 5 years slow on paying the principle that was to be paid with in three years. He has paid down about $20,000. What should I do from here?

Thank You,

Christina


Asked on 2/02/15, 4:36 pm

1 Answer from Attorneys
Frank Natoli Natoli-Legal, LLC

If he is in default, you might want to start with an attorney letter letting him know you will take legal action unless he gets on track. Beyond that, you may need to go to court with your note and get a judgment.

If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.

Our firm is now referred by the American Bar Association (see under the New York section):

http://www.americanbar.org/groups/delivery_legal_services/resources/programs_to_help_those_with_moderate_income.html

Kind regards,

Frank

www.LanternLegal.com

866-871-8655

[email protected]

DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.

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Answered on 2/05/15, 1:10 pm


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