Skip to content
Two investors reviewing resources on a laptop

Get industry-leading resources — for free

Unlock resources for every investing strategy and stage with a free account.

By continuing, you agree to BiggerPockets LLC's Terms of Use and Privacy Policy

Followed Discussions Followed Categories Followed People Followed Locations
Florida Real Estate Q&A Discussion Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

665
Posts
1,744
Votes
Llewelyn A.
  • Investor / Broker
  • Brooklyn, NY
1,744
Votes |
665
Posts

Collecting on a Personal Promissory Note - Weston, Florida

Llewelyn A.
  • Investor / Broker
  • Brooklyn, NY
Posted

I wrote out a Promissory Note for a Personal Loan to a relative for $50k.

The Relative works in Weston, Florida and earns 6 figures.

The 1st Payment is due on Jan. 1st, 2018 but I despite trying to contact my cousin, he seems to be hiding out from me and other family members.

I think the only recourse I have is to hire an Attorney to get a Judgement and Garnish his Salary.

Can anyone recommend an Attorney, preferably in the Weston/Fort Lauderdale/Miami area? I can search on the Internet, but I wanted to start with recommendations first.

Much appreciate it.

Most Popular Reply

User Stats

634
Posts
415
Votes
David Barnett
  • Rental Property Investor
  • Cambridge, MA
415
Votes |
634
Posts
David Barnett
  • Rental Property Investor
  • Cambridge, MA
Replied

@Llewelyn A. I can't recommend an attorney in the Miami area, however, was wondering more about this situation.  Is this a real estate loan, or is it an unsecured note?  In the past year, I loaned money to investors that were secured by a property as collateral.  I had a default clause in the note and recently exercised my option to collect.  The default notice seemed to do the trick, and I'm working towards getting paid.  Best of luck.

  • David Barnett
  • Loading replies...