Legal Question in Credit and Debt Law in New York

Re: How i collect personal debt. I have loan note

If you the payor refused to pay, you have no choice but to commence an action and obtain a judgment against him. After you obtain a judgment, and the payor still refuses to pay, you can attempt to "enforce" the judgment by siezing the his bank account and other assets that he may have. If I can be of assistance, feel free to contact me.

PETER M. AGULNICK

ATTORNEY AT LAW

321 Broadway, 2nd Floor

New York, NY 10021

Tel. 212-535-1091

E-mail: [email protected]

web: www.agulnicklaw.com

Re: How i collect personal debt. I have loan note

If the individual that owes the money under a promissory note refuses to pay on that note and refuses to allow the note to be renewed, I would think that the note holder would have no choice but to commence an action to obtain a judgment.

Depending on the language in the note, the note holder may bring an action under NY CPLR 3213. In other words, instead of going through a lengthy court battle, the holder has the option of making a motion before the Court for an immediate judgment.

Mike.