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Updated over 4 years ago on . Most recent reply

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Darius Ogloza
  • Investor
  • Marin County California
2,357
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1,963
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Market for Unsecured Notes?

Darius Ogloza
  • Investor
  • Marin County California
Posted

Total shot in the dark but is anyone aware of any buyers interested in nonperforming unsecured notes?  I had my former tenant execute a promissory note for missed rent upon move out in exchange for withdrawing an eviction filing.  The note is accruing interest at 8.5% and has about 3 years before the statute of limitations will require legal action to be filed.  Not expecting much interest but you never know unless you ask.    

Most Popular Reply

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36
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Gene Chandler
  • Investor
  • Elkhart, IN
32
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36
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Gene Chandler
  • Investor
  • Elkhart, IN
Replied

I've collected on many thousands of that kind of debt when I was a landlord years ago. Most people stop at the judgment and expect a payment someday. "not gunna happen" In most cases. I went from Judgment to next finding out their assets and attaching them and if they did not show up in court I filed again using skip-trace search then if they did not show the Judge would place an arrest warrant out for them and "BEHOLD" they would show up wearing orange. The difference was I followed through the entire prosses. What State and County?   GC

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