Legal Question in Credit and Debt Law in California

Promissory note repayment

In January of 2007, wife and I loaned the sum of $20,000 to my brother-in-law and sister-and-law to secure a balloon payment on a business they owned that was due. We created a promissory note, which both of them signed, that stated they were responsible for interest and principal repayment. As collateral, they put up a boat that they advised us was worth in excess of the $20,000. When they had missed several months of payments, we announced that we wanted the boat.

The boat was inspected by a marine mechanic and was estimated at 4-5K in value. We refused the boat as payment and told them we could would until the business was sold to recover our expenses.

They separated and filed for divorce soon after. Brother-in-law signed all interest in business and properties to sister-in-law and quit the marriage to avoid support. Sister-in-law sold the business and has since refused to honor the agreement.

Should I sue pro se?

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