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The last few posts are legally sound and all, but I wonder from a practical point of view, are they really relevant.

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not really. That's why I said it wasn't really worth it on a 15k loan. He could get a security agreement and file a financing statement with the Dept of Licensing in his state, but he would still have to sue to enforce that agreement. For 15,000 (or less by the time the guy defaults) it just isn't worth the extra hassle. In a garnishment, you can empty the guy's bank accounts if you know where he banks, and you can get 25% of his disposable income. That isn't much, and often the cost of the garnishment exceeds the amount you bring in. Plus, they are complicated, at least here in Washington. He should get a decent promissory note and just go with that.

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Tell him to open up a few credit cards, max those out and declare bankrupcy.

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You're kidding, right?