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Default of promissory note

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ronthet

Junior Member
What is the name of your state (only U.S. law)? TX
I entered into a promissory note to get repaid $6875.00 begining March 1, 2013 and to be paid of by Aug 1 2014. payment of $250.00 per month. Received 5 or 6 payment and had stopped sending. This is a time share company in Willis Tx. How do I go about filing in small claims to receive the 4800 to 5000 plus still owed. If able to do small claims and win do I also get courts cost etc with the settlemen. Or do I need to hire a lawyer.
 


adjusterjack

Senior Member
What is the name of your state (only U.S. law)? TX
I entered into a promissory note to get repaid $6875.00 begining March 1, 2013 and to be paid of by Aug 1 2014. payment of $250.00 per month. Received 5 or 6 payment and had stopped sending. This is a time share company in Willis Tx. How do I go about filing in small claims to receive the 4800 to 5000 plus still owed.
You don't file in small claims to "receive" money, you file in small claims to seek a judgment that somebody owes you money. Once you win the judgment, then it's up to you to try to enforce the judgment and collect the money.

The Texas small claims limit is $10,000. Your local court should have forms and instructions. If not, try the bigger county court websites like Dallas, Denton, or Harris. They have good self help web pages.

If able to do small claims and win do I also get courts cost etc with the settlemen. Or do I need to hire a lawyer.
When you win you get your filing and process service fees added to the judgment.

You do not need a lawyer.
 

justalayman

Senior Member
Before going to the trouble of suing you will want to research what you have available to collect on a judgment in Texas. It can be very difficult to collect on a judgment in Texas.
 

LdiJ

Senior Member
Before going to the trouble of suing you will want to research what you have available to collect on a judgment in Texas. It can be very difficult to collect on a judgment in Texas.
You also might want to research resale values of timeshare units. That might help you determine your chances of collecting.
 

CTU

Meddlesome Priestess
Before going to the trouble of suing you will want to research what you have available to collect on a judgment in Texas. It can be very difficult to collect on a judgment in Texas.
Yup, I was about to say the same thing. Texas and PA can be an absolute nightmare.
 

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