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Updated over 7 years ago on . Most recent reply

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Llewelyn A.
  • Investor / Broker
  • Brooklyn, NY
1,744
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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

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David Barnett
  • Rental Property Investor
  • Cambridge, MA
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634
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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
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