I have deal that defaulted a while back. I syndicated the entire deal. Around 75k at a 1.28. ACH deal. This is the third round of funding. First two were paid back without a hitch.

Anyway, his balance is around 48k.
He is paying very sporadically, but he is paying. I set up a payment plan but he is not adhering to it. He provides me with checks when the money becomes available.

It is a local merchant so he stops by my office to reassure me that he will get me paid, but it might take more time than i have.

He seems pretty sincere. Do i keep on accepting the piecemeal payments or file a claim.

I am thinking of letting it ride. The cost to file a claim or suit is expensive, and the ability to collect if i get a judgement will be difficult. He says he just does not have the money.

Thanks for any insight.

The syndication partner is not really of much help.