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-   -   Collecting on a Note (https://www.askmehelpdesk.com/showthread.php?t=679797)

  • Jul 7, 2012, 02:37 AM
    moondoggy62
    Collecting on a Note
    I hold a promissory note that was defaulted on still owing $1000 and is secured by collateral of a motor vehicle. The motor vehicle does not have a lien on the title. How can I get the rest of the money owed and the collateral? This happened in AZ. If I have to go to court does it have to be where the note was signed?
  • Jul 7, 2012, 04:04 AM
    Fr_Chuck
    Why did you not put a lien on the vehicle ? When they signed the note, you file a lien. Nothing at this point stops them from selling the vehicle.

    Normally yes, where ever the business deal occurred is where you sue at, unless your note says otherwise.
  • Jul 7, 2012, 07:19 AM
    ScottGem
    The note is a lien on the vehicle. You should have filed the note with the DMV when it was signed. However you can still do so.
  • Jul 8, 2012, 12:46 AM
    moondoggy62
    Automobile Title Lien
    I have a signed notarized Promissory Note secured by collateral of a vehicle can I use the Note to obtain a lien on the title of the vehicle?
  • Jul 8, 2012, 05:08 AM
    AK lawyer
    You will need to check with the DMV in your jurisdiciton. It may be that a vehicle lien can only be created through use of the form on the title certificate.
  • Jul 8, 2012, 05:10 AM
    ScottGem
    Please don't start multiple threads for the same issue. I've merged your threads. If you have any further follow-up, please reply to this thread.

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