What is the name of your state (only U.S. law)? Missouri
My young brother took out a loan from my mother in 1999 in which she took out a loan against her home. He was no where on the loan or any paperwork..just his word he would pay her back. My mother became ill and in January 2011 she passed away but before she did she left me her home as I had been taking care of her for the past 6 years during her illness and she wanted my brother to sign a promissory note stating he would continue making payments on the note until it was paid in full. He did sign a promissory note in which he would continue making payments to me but later after she passed wanted the promissory notes back...so I gave him 2 of the original 3 that I had and kept the one b/c he gave his word he would continue paying without a promissory note and whatever his fears were I wanted to try to help allay them. All he had to do was continue paying just the principal (saving him thousands in interest) and not the interest b/c I sold the home to satisfy the debt. After writing to him detailing how I wanted him to repay and even solicited his opinion as to how he might want to set it up he then notified me .."I have no intent of repaying the loan"...Everyone told me he would fold on it but knowing his history I did not ever believe he would have lied to my mother and me all these years giving his solemn word and oath. He stated he contacted his bankruptcy attorney and stated he could get that payment declared in his bankruptcy. For one I did not think one could continue creating debt after filing bankruptcy then going back to have a future debt declared.
My question...Is the promissory note a legal binding document and can I pursue this in small claims court?? The amount owed is $27,000 dollars. He is not aware of the last original promissory note that I have..he thinks I destroyed it.What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?
My young brother took out a loan from my mother in 1999 in which she took out a loan against her home. He was no where on the loan or any paperwork..just his word he would pay her back. My mother became ill and in January 2011 she passed away but before she did she left me her home as I had been taking care of her for the past 6 years during her illness and she wanted my brother to sign a promissory note stating he would continue making payments on the note until it was paid in full. He did sign a promissory note in which he would continue making payments to me but later after she passed wanted the promissory notes back...so I gave him 2 of the original 3 that I had and kept the one b/c he gave his word he would continue paying without a promissory note and whatever his fears were I wanted to try to help allay them. All he had to do was continue paying just the principal (saving him thousands in interest) and not the interest b/c I sold the home to satisfy the debt. After writing to him detailing how I wanted him to repay and even solicited his opinion as to how he might want to set it up he then notified me .."I have no intent of repaying the loan"...Everyone told me he would fold on it but knowing his history I did not ever believe he would have lied to my mother and me all these years giving his solemn word and oath. He stated he contacted his bankruptcy attorney and stated he could get that payment declared in his bankruptcy. For one I did not think one could continue creating debt after filing bankruptcy then going back to have a future debt declared.
My question...Is the promissory note a legal binding document and can I pursue this in small claims court?? The amount owed is $27,000 dollars. He is not aware of the last original promissory note that I have..he thinks I destroyed it.What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?
