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I hold a promissory from a startup co. They refuse to pay and don't answer the phone or email. What kind of lawyer do I need?

San Diego, CA |

Delaware company doing business out of San Diego, CA
Promissory note in the hundreds of thousands of dollars.
They ARE STILL IN BUSINESS as far as I know.
I would like to use AVVO as a tool to help find a lawyer but I don't know what category to look under. Can you help?

Attorney Answers 3

Posted

What is the promissory note for? A loan? A purchase? A personal injury settlement? It makes a difference with respect to the type of attorney you need.

twitter.com/MikaSpencer *** All legal actions have time limits, called statutes of limitation. If you miss the deadline for filing your claim, you will lose the opportunity to pursue your case. Please consult with an experienced employment attorney as soon as possible to better preserve your rights. *** Marilynn Mika Spencer provides information on Avvo as a service to the public, primarily when general information may be of assistance. Avvo is not an appropriate forum for an in-depth response or a detailed analysis. These comments are for information only and should not be considered legal advice. Legal advice must pertain to specific, detailed facts. No attorney-client relationship is created based on this information exchange. *** Marilynn Mika Spencer is licensed to practice law before all state and federal courts in California, and can appear before administrative agencies throughout the country. She is eligible to represent clients in other states on a pro hac vice basis. ***

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1 comment

Asker

Posted

Thanks for the quick answer. The PN is for a loan to a startup renewable energy company.

Posted

You need a business attorney to review the lending instruments. If the promissory note is typical, it gives you the right to accellerate the full principal balance due in the event of a default in payment.

This answer does not constitue legal advice, nor does it creat an attorney/client relationship. If you are seeking legal advice upon which you intend to rely, you should hire competent cousel familiar with this area of the law in your locale.

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3 lawyers agree

4 comments

Asker

Posted

Hi and thanks for the quick response. What does "accellerate" mean if they are refusing to pay?

Shaun K. Boss

Shaun K. Boss

Posted

It means that regardless of the amount of the periodic payments that may have been missed, you may have the right to call the entire balance all due and payable now if the note contains the appropriate provisions.

Asker

Posted

Thanks! But The entire loan amount was due, plus 20% interest, more than six months ago. So now the question is how to attempt to legally force them to pay up.

Shaun K. Boss

Shaun K. Boss

Posted

You file a collection lawsuit

Posted

I can't help, but one of these lawyers can:

http://www.avvo.com/search/lawyer_search?utf8=%E2%9C%93&q=business&loc=San+Diego%2C+CA&commit=Go&ref=nav_search

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