Answered 5 years ago|
You have to sue, or at least begin initiating the process and seeing if the debtor then agrees to pay or at least settle--there is no other way. If the note is for less than $1,500 or so, you should probably try to pursue the matter yourself in small claims court; for more than that, you'd be well advised to retain an attorney to represent you. Note that while there are ways to get payment if the debtor refuses, even after losing a lawsuit, to pay, such as by garnishing wages, putting a lien on property, or attaching assets, they all require that the debtor have assets or income. If the debtor has nothing or next to nothing, he may be "judgment proof" and even if you sue and win, you'll lose--you can't get blood from a stone, and spending money on a lawsuit only to be unable to collect does not help you.
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