Legal Question in Credit and Debt Law in New Jersey
debt, collection
My brother signed Promissory Note for loan of $6,000 (no interest if paid in 6 months, otherwise owes 5% from that date on any unpaid balance). Now claims he cannot and will not repay. (a) Can I sue for full $6K in small claims court, (b) what enforcement does court allow for, (c) will judgement be reflected in his credit report (this may sway him to repay, as it could affect getting a job, etc.) Thanks for all your help.
2 Answers from Attorneys
Re: debt, collection
You can sue in Small Claims court. The court clerk should have a package that tells you how to enforce the judgment. If not, there is one on the NJ Court web site.
See also: http://info.corbettlaw.net/lawguru.htm
Re: debt, collection
If you have a valid promissory note, and you gave something of value for it, then you should be able to enforce it.
If you want a lawyer to assist, please contact me.
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