Ask a Canada Law Question, Get an Answer ASAP!
What province is this please?
You can sue in Small Claims Court for up to $25,000 plus interest plus your costs.The promissory note is very strong evidence of the debt.
And you can most assuredly sue the guarantor as well because that is part of the agreement.
Once you get a judgment you can seek to enforce it by garnishing wages, seizing assets such as bank accounts, seizing assets such as cars or even property and having them sold, registering liens etc.