Legal Question in Civil Litigation in California

promisory note

I lend money to a relative. signed an primisory note, but we had problems since the first payment with not sufficient funds, now they are 4 months with no payment everone tells me that forget it, it would not be worth to fight at court, it would cost about the same the owe me. it is 20 grands. any suggestion. i'm retire and that money was part of my savings


Asked on 8/17/08, 4:47 pm

1 Answer from Attorneys
Arkady Itkin Law Office of Arkady Itkin

Re: promisory note

Hello.

$20k sounds like a large amount of money enough to justify legal action as prosecuting it should not cost more than a couple of thousand dollars. Of course it will be only worth doing it if you believe the borrower has the means to pay. If he is insolvent, then the judgment will be of little if any use.

Thanks,

Arkady Itkin

http://www.sanfranciscoemploymentlawfirm.com

Read more
Answered on 8/17/08, 5:37 pm


Related Questions & Answers

More General Civil Litigation questions and answers in California