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Updated over 4 years ago on . Most recent reply
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Market for Unsecured Notes?
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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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