Legal Question in Business Law in Florida

Default on Promissory Note

I sold a tanning salon , I hold a Promissory Note, The Obligor is now 30 days late on payment due.

they paid 1/2 payment in May 2009 and as yet no payment in April. what is our next step


Asked on 4/10/09, 8:52 am

2 Answers from Attorneys
Richard Stoffels Stoffels Law Group

Re: Default on Promissory Note

You hire an attorney and start pursuing your collection options.

Read more
Answered on 4/10/09, 9:10 am
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

Re: Default on Promissory Note

Keep bugging them to pay (recommended) to see if they get caught up or file suit on the note. Often times it is not best to just immediately sue and would depend on the circumstances and whether there is any immediately available security.

Read more
Answered on 4/10/09, 12:41 pm


Related Questions & Answers

More Business Law questions and answers in Florida