Bankruptcy filed after court decision

[Cioccaz]

What is the name of your state? TX

I will do my best to explain this situation to the best of my knowledge...

My mother (in Arizona) made a considerable loan of money to her nephew (in Texas) in 1985 and documented (signed by both parties) the loan on her own with a fixed interest on the money. He was to use the money for a condo. development that never materialized. He ceased all contact with my mother and never made a payment on the loan. My mother retained an attorney in Texas and won a court decision (in 1991) against the nephew but he filed bankruptcy and no assets could be used to repay the loan.

My question is: can the debt ever be repaid and assets recovered to make these payments if the person has re-established his assets after the bankruptcy? He obviously will not voluntarily pay the debt off.

I am sorry if my question is ignorant but I am completely foreign to her rights after bankruptcy is filed and it may also be a question of time since so many years have passed.

There may also be other required information to answer my question and I can try to provide that if necessary.

Many thanks for your kind input...What is the name of your state?

[FlyingRon]

If the debt is listed in the bankruptcy filing, she is almost surely out of luck. If it wasn't she might have some options, but the chances of her seeing money (especially from someone who hasn't got any) is slim.

[moburkes]

Originally Posted by Cioccaz

What is the name of your state? TX

I will do my best to explain this situation to the best of my knowledge...

My mother (in Arizona) made a considerable loan of money to her nephew (in Texas) in 1985 and documented (signed by both parties) the loan on her own with a fixed interest on the money. He was to use the money for a condo. development that never materialized. He ceased all contact with my mother and never made a payment on the loan. My mother retained an attorney in Texas and won a court decision (in 1991) against the nephew but he filed bankruptcy and no assets could be used to repay the loan.

My question is: can the debt ever be repaid and assets recovered to make these payments if the person has re-established his assets after the bankruptcy? He obviously will not voluntarily pay the debt off.

I am sorry if my question is ignorant but I am completely foreign to her rights after bankruptcy is filed and it may also be a question of time since so many years have passed.

There may also be other required information to answer my question and I can try to provide that if necessary.

Many thanks for your kind input...What is the name of your state?

If that loan was included in the BK, and she makes ANY type of attempt to collect that debt, she will owe said relative even MORE money.

[Cioccaz]

Many thanks for taking the time to answer...