Legal Question in Credit and Debt Law in California

Loaned 100k to a private party with a deadline to repay in one year. Borrower defaulted and only paid 31k. Letter of Default sent by my lawyer. How do I proceed through the Superior Court system in California? My legal plan does not cover the cost of prosecution. Can this individual be sent to jail? Has a history of doing this to two other individuals with a total of 330k taken from 3 homes. Assets and collateral put up were not viable options, did not disclose that the collateral equity had already been tapped and was worthless.


Asked on 8/15/09, 9:55 am

1 Answer from Attorneys
Joel Selik www.SelikLaw.com

File a lawsuit for breach of contract and Fraud. Not likely to be able to get a Criminal prosecution and arrest.

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Answered on 8/15/09, 10:15 am


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