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I previously owned two franchise territories in NYC. Each territory was sold separately to two (2) separate buyers in the fall of 2011. At the sale each buyer entered into a Purchase & Sales Agreement (P&S) for the ownership of the territory and a Promissory Note (Note) for the remaining balance of the purchase price. The P&S was executed by the corporate entity that owns the rights to the franchise, as well as the buyer and my entity. The Note was signed personally by each respective buyer, between them personally and my entity.
Both buyers defaulted on their respective Notes on April 30, 2012. We have made continuous attempts to collect payment with no success. We entered into Collections with one buyer but did not receive any response or monetary outcome from the process. We would like to engage with an attorney or firm that is willing to pursue legal action against each of the Buyers whom have defaulted on the Notes.
Buyer 1 is in default of amounts over $60,000 ...
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