How do I file a claim for default on a promissory note?

Full question:

After I notify borrower of default on promissory note, I want to file in court. Please send me information on how to file this claim myself? Total owed is $32,000.00.

  • Category: Debts and Credit
  • Subcategory: Promissory Notes
  • Date:
  • State: Hawaii

Answer:

A lawsuit for default on a promissory note begins with filing a complaint in court. This complaint outlines the breach of contract and requests damages. You typically file the complaint in the jurisdiction where the defendant lives, where the contract was made, or as specified in the contract.

In your case, you are seeking $32,000. The complaint should detail the unpaid balance, any interest, court costs, attorney fees, and other damages as outlined in the contract. After filing, you must serve the complaint to the defendant and attach a certificate of service to prove it was delivered.

Since court rules and filing fees can vary, it's advisable to contact the clerk of courts in your area for specific guidance.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

The document that a borrower signs to become personally liable for a debt is called a promissory note. This legally binding agreement outlines the terms of the loan, including the amount borrowed, interest rate, repayment schedule, and consequences of default.