Sue. The statute of limitations is 6 years. Don't miss it.
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As my colleagues have aptly pointed out, you must bring a lawsuit with some haste because the statute of limitations will soon run. After the SOL has run, you will lose your right to repayment (you can make an argument that the SOL began to run when the last payment was made to you, and it will likely be successful).
Even if you do not believe that the couple has the money to repay the entire amount right now, there are judgment enforcement mechanisms that you can utilize to recover your money. Speak with an attorney as soon as possible. Many area attorneys, including myself, offer free consultations. Good luck.
McGrath Law Firm, PLLC
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Don't delay. Hire a lawyer to start a lawsuit ASAP! Tghe statute of limitations is running on the note. If it runs out you will lose your right to sue.
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You might also talk to a CPA about claiming a loss on your taxes if you cannot collect.
My response is general information not intended as legal advice or to create an attorney-client relationship. Seek advice from a qualified attorney to see how the law fits your specific facts. I am licensed to practice law in Washington and Oregon.