My question involves collection proceedings in the State of: PA
My father would routinely make personal loans to friends and acquaintances of his. He had a very good working relationship with one in particular, who he make several loans with. In 1999, my father agreed to loan this guy and his wife $100,000 to start a business. An official promissory note was written up by a lawyer (who is now deceased) and both the guy and his wife signed the note. He made several payments in 1999 and 2000 and then his business went bust. Are we too far past the SOL to try and do anything to collect this debt, or is there anything we can do?
My father would routinely make personal loans to friends and acquaintances of his. He had a very good working relationship with one in particular, who he make several loans with. In 1999, my father agreed to loan this guy and his wife $100,000 to start a business. An official promissory note was written up by a lawyer (who is now deceased) and both the guy and his wife signed the note. He made several payments in 1999 and 2000 and then his business went bust. Are we too far past the SOL to try and do anything to collect this debt, or is there anything we can do?
Collection Lawsuits: Can We Sue for Unpaid Debt (Pa)
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