QUESTION
I need to file a lawsuit to collect money owed from a real estate transaction in the amount of approximately 380,000.
Asked on Jun 08th, 2016 on Breach of Contract - Colorado
More details to this question:
The parties owing do not deny that they owe, they simply won't pay. In the promissory note we have they also agreed to pay all legal fees if they defaulted. I cannot afford an attorney. This is a result of a real estate transaction that we have re- negotiated and have made concessions to for a long time. We have renewed and altered agreements trying to help to make it workable for both sides, but now, after making a VERY reasonable offer to settle the other parties have stopped responding to my communications. My husband and I basically lost our retirement as a result of this deal and are now of an age that it needs to be settled. At one point we had a family member who is an attorney representing us, but he did not have our best interest in mind so we are not represented at this time. We would like to find out what forms we need to file to move this forward in Clear Creek County, CO. Thank you
1 ANSWER
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One advantage that you have here is the fee-shifting clause in your contract, where they have agreed to pay legal fees in case of default. While litigation is usually charged per-hour--which makes it very expensive--it is possible that an attorney might work with you on some creative financing, where he or she gets less than usual, or no money, for a loss, but more than the ordinary fees for a win. This would depend partly on how strong the case appears to be; that is, whether you have a really good chance of winning. It would also depend partly on your chances of collecting a judgment. Some attorneys will also do what is called an "unbundled representation," meaning that they do part of the work but you do most of it. Even though you don't have cash up front, it still might be worth exploring your options with an attorney.
You ask about forms. Basically, you would need to file a complaint to start a lawsuit. Though that is over-simplifying--like saying, "Start open-heart surgery by cutting open the chest."
Answered on Jun 09th, 2016 at 6:42 AM