Legal Question in Credit and Debt Law in California
collecting a debt owed to me
have a signed note and another piece of paper that says that the person that owes me money will pay me on the day they close escrow when they sell their house which is currently listed. Can I give that to the title company to collect when they do sell it or do I have to get a court judgement ( abstract of judgement) and how do I do that?
Thanks
1 Answer from Attorneys
Re: collecting a debt owed to me
If it is a non-consumer debt, you can get a Right To Attach Order from the court without them knowing about it in advance. Otherwise hurry up and sue before the money is gone. If the note specifies they will pay your attorney fees and costs of collection, you can get those too; if you forgot to say this in the note, too bad. What you should have done was have the note written by a lawyer so that the debtor agreed to instruct escrow to deduct your payment from the proceeds.
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