I know the frustration of late payors from afar. You could sell the note, but you might want to at least have the guy served with a pay-or-quit just to see if you can roust him out of the woodwork so you can talk.
Maybe he’s figured out that you left town and is testing the waters to see just how far he can go.
I recently had a payor ask if he could skip a payment and add it on to the end of his note- death in the family, blah, blah, blah, he just thought I’d be the softest touch. I said “sure, but we’ll add TWO payment on to the end of the note”. He wasn’t thrilled but he agreed to it.
I have Lonnie Deal in North Salt Lake. 1980 3/2 15x72 Mont. Very good condition. Balance due: $14,706.26.
The buyer has been paying for a little over a year. Recently, the buyer has been late and I can’t get ahold of him by phone. He has recieved 2 certified letters I sent. Then, he made a small, late payment (only a partial payment). I think there is a chance a payment plan could be worked out if I could go meet with him and discuss how to resolve any financial problems he may currently have. If that is unsuccessful, I will have to take action to get him out. My problem is that it is difficult to work this out long distance (I live in WA). So, I am considering to sell the note at a discount to someone that could handle this locally.
Anyone interested? Any suggestions? If so, please send me an e-mail and will give the particulars.