Legal Question in Credit and Debt Law in California

Delinquent Promissory Note

We have two Promissory Notes from one individual. Both are delinquent. How long after the due date can we wait before filing suit?


Asked on 9/21/05, 2:32 pm

1 Answer from Attorneys
Carl Starrett Law Offices of Carl H. Starrett II

Re: Delinquent Promissory Note

How long you wait after a default in a promissory note to file suit is really up to you unless there is a specified waiting time in the note itself. Some notes that I have seen will provide a specific procedure to follow first, like giving the borrow a 5-day demand lettter with an opportunity to cure the default.

I do a fair amount of debt collection and I offer both contingent fee and hourly fee agreements. Feel fee to contact my office for a consultation.

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Answered on 9/21/05, 4:21 pm


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