Legal Question in Credit and Debt Law in New Jersey

unsecured promissory note

Hello;

Good Afternoon::

I have a promissory Note which has the following attorney�s fee provision:

� In the event this note shall be in default, and placed with an attorney for collection, then the undersigned agree to pay all reasonable attorney fees & costs of collection. �

I am a resident of NJ & promissor is also the resident of NJ.

If I have to go to an attorney for collection, will the pre-judgment & post-judgment attorney fees & collection costs be awarded by the court in my favor ?

I will appreciate your response to this qu ery.


Asked on 7/04/09, 9:23 pm

1 Answer from Attorneys
John Corbett Corbett Law Firm LLC

Re: unsecured promissory note

The court will probably award pre-judgment attorney fees because of the language in the note. Post-judgment fees will not be included in a judgment. In theory, they can be collected too, but it will take another suit to do that.

See also: http://info.corbettlaw.net/lawguru.htm

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Answered on 7/05/09, 12:23 am


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