How to Enforce a Promissory Note in Wisconsin

Promissory notes are binding legal agreements between two parties, where one party (the promisor) agrees to pay a debt to the other party (the promisee). Since promissory notes are binding, if the promisor defaults on the debt, the promisee can turn to the courts to collect the balance. In Wisconsin, promissory notes can be enforced through the civil courts. The amount of the debt determines which court the case should be filed with.

Instructions

1

Check the terms of the promissory note. The note should specify what happens in a default situation, including whether you can include your legal fees in any collection attempt and how long you have to wait before you can turn to the courts to enforce the agreement. You must abide by the terms of the agreement.

2

Send a registered letter demanding payment. Your letter should make clear that it is a final demand and how the long the promisor has to settle the promissory note before you file a claim in court. State the full outstanding amount, including any interest, that needs to be paid and where payment should be sent.

3

File a court claim to collect on the note by visiting the county courthouse. If the note is not satisfied by the deadline specified in your letter, file a claim for the outstanding money. In Wisconsin, if your claim is for $5,000 or less, you should file the case in the small claims court. You can file the case either in the county in which the promisor lives or in the county where the promissory note was signed. For amounts over $5,000, you will file in the same courthouse, but the case will be a civil case rather than a small claims case. You are not obligated to hire a lawyer, but you certainly can do so. Generally, people represent themselves in small claims cases, but hire a lawyer to help them in cases involving larger sums of money.