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Thanks for the message. So if I do sue and win, what actually happens? The court orders the person to pay...and then I wait once more for payment? And then if he doesn't pay, I sue again? Also, is there any reason I wouldn't win the law suit given the info I have presented?

I loaned a substantial amount of money(~350K) to a friend to buy a business several years ago. Up until this year, he has been paying both the personal and business loans on time so there have been no issues. As of January, however, he stopped paying both loans because business is down. That...