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View Full Version : Brother Has Not Abided By Terms Of Promissory Note-Owes Me $260,000, Now What?


julbox3134
Oct 9, 2012, 08:36 PM
I have a promissory note signed by my brother in front of my lawyer and notorized accordingly. My brother has basically just quit paying me anything and I really need the money. What can I do to get the money he owes me. I am tired of being patient and saying nothing.

Fr_Chuck
Oct 9, 2012, 08:44 PM
First, say something, ask him for the money,

Next what is the terms of the note, is there monthly payments, what is the terms for being in default ?

But you hire an attorney and sue him in court for the money( if you are in the US) and get a judgement and then go after his money.

julbox3134
Oct 9, 2012, 08:48 PM
First, say something, ask him for the money,

Next what is the terms of the note, is there monthly payments, what is the terms for being in default ?

But you hire an attorney and sue him in court for the money( if you are in the US) and get a judgement and then go after his money.

I have no problem taking him to court, but quite honestly I am truly broke at this point and can't hire one. What can I do, I really need the money.

ScottGem
Oct 10, 2012, 03:44 AM
Since the amount is greater than small claims court you will have to file in civil court. Since you have a properly executed promissory note, you will just need to prove he hasn't not paid according to the terms of the note.

You can probably do this without an attorney.