I filed a suit in the first matter when payments were not made. We reached a settlement in 2011 and this "new note" was part of that settlement. I have not filed suit for this current matter. Over $55,000 plus interest and collection costs is owed.
The debt is owed by the business (I believe it is an S-Corp). The guaranty is personal.
I already spent a considerable amount with the first suit. I'd like to think there may be other less expensive options. What are your thoughts about placing this with a collection agency? Any other ideas?
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