What options would I have in order to collect on a promissory note I have from a former friend (personal loan) that owes me several thousand dollars? The note was made for CA state, however I have recently moved to Colorado. The friend who borrowed money from me agreed to sign a promissory note and it was also notorized at that time. I had stipulated a repayment schedule to begin this month, monthly, however he had crossed it out on the note. Is this valid? What recourse do I now have to get any payments in a timely manner? Would a personal promissory note (official form) hold up in small claims court? What if he declared bankruptcy, would I ever see a dime? He has trouble holding down a job and has other debts like child support to others. Are there collection companies out there that purchase personal promissory notes, even if it means less money for me, but it would take it out of my hands for collection? Thank you anyone for any advice!!!

