the borrower owe $45000 and is delinquent. he treaten me I will not get a penny back if I sue, and told me he eventraly will pay if I ask in peace. there was a notorized contract with promised colateral not dilvered and promised lien on their house they are not willing to sign.
What should be my stratagy now to get my money back??? their voilation of the contract caused mental illness of my family and a lot of liquidated damages. How should I do to get my money back?? wait at their mercy?? or force them through law??? what are the odds of success for each way??
There are too many variables in your question to give you good advice. You say there is a contract. The contract holds much of the answer to your question. For example, does the contract spell out what happens if the borrower is in default? Sit down and read your contract to see if you can find some of your answers there. Otherwise, the only way you are going to get good legal advice is to seek out a business attorney and let him/her read the contract and any other documents you have concerning your agreement. If the borrower made some payments, your case will be much more likely to prevail. Good Luck
Your question is hard to answer. Generally, to win a court case you must have facts to prove that the potential defendant breached his or her obligation to and you suffered damages as a result. So, it will be helpful if you have a contract or promissory note or other written evidence of the obligation. Even letters or emails in which the borrower acknowledges the debt may suffice. Why don't you give a bit more information--specific facts?