Legal Question in Business Law in Missouri

Re: Filing suit

The short answer is to bring a copy of the note to our law firm together with a summary of the payment history under the note and the name and address of the debtor. With this information we would send a demand letter to the debtor and accelerate the note if necessary, and if no response is received from the debtor we would file a complaint seeking a judgment in the outstanding amount of the note, together with attorney fees and costs if permitted under the note. The longer answer is that we would also be interested to review the franchise agreement and any other documents and notes related to the underlying business transaction so that we can evaluate any other claims and remedies that may be available; and we would also want to address any issues of counterclaims that may be brought by the debtor against the lender; and if the note is a secured note we would want to discuss a forced sale of the collateral securing the note; and that upon judgment we would seek to enforce the judgment through garnishment and other actions available.

Re: Filing suit

Feel free to contact me I can help. [email protected]

Greg S. Kessler