Quest Talk:Chapter 2: Laerdan's Trail
Something strange happens here
When this happened to me and I asked in world chat how to pick up this quest after reading Laerdan's note, many players suggested that I was in a "black hole" for the epic quest that happens around my level. Ladrochan at the stables had no quest for me, nor did Elrond or Aragorn, and I could not get into Laerdan's room.
Volume II Book 1 had already opened up in Echad Dunann in Eregion. I had finished the prologue for Volume II where I saw the hobbits off from Rivendell, not sure if that's why Volume II was available. But I got my legendary weapon, got it to level 10 and brought it back to Rivendell to be reforged. Stopped by LHH before I did, and Elrond still had nothing, but Laerdan's room was open. Laerdan had the beginning of The Long Road South as a quest for me. After I accepted, the next step given to me was to talk to Laerdan, but Laerdan had nothing much to say to me. Left his room and his note was on the wall. Read that, Elrond then gave me the reward for completing Long Road South, and gave me the Chapter 2 quest, so it appears I'm on my way again.
I suspect that either there is intentionally an overlap between being able to complete Volume I until you've accomplished something in the Volume II storyline (e.g. you have to have a weapon like none you've ever had before you can even think of following Laerdan), or something is just bugged in how it goes. Best advice I can give is, if you cannot pick up this quest after finishing Long Road South, try doing a little of Volume II and come back.