My sister filed for bankruptcy and listed me as one of her creditors. She wants to pay me back now. Should I go to the trouble of having a Promissory drawn up for the repayment? Is there a point to doing that? Are there Oregon laws governing this sort of promissory note?
Once you are listed as a creditor on a bankruptcy and the debtor gets a discharge, you are no longer legally entitled to collect the debt. The debt doesn't exist, at least not legally, and if you tried to collect it you would be violating bankruptcy law and subject to penalties.
Your sister can of course opt to pay you back but it would be purely voluntary on her part. Because this would be voluntary, there is no point in drawing up any legal documents to enforce this. All you can do is sit back and wait and see if she does pay you back. Going forward you can refuse to lend her any money in the future and you can dissociate yourself from her socially if that gives you any satisfaction.
Be aware that in order to get a bankruptcy discharge your sister had to provide the court with a budget that left her no excess money that could have been used to pay back her debts, so the act of her coming up with extra money now to pay you back might contradict her sworn statement as to the budget she needed to live on that she filed with the court. (If she came into additional income, then it wouldn't be a problem, such as unexpected overtime pay or a raise that wasn't anticipated.)
In the future if you want to loan money to someone, talk to an attorney about how you might created a secured loan. As a secured creditor you will retain your right to get paid back if the item pledged as security has at least the value of the loan you made. Anything can be used to secure a loan - a car, a house, jewelry, electronics, personal property with significant value. (If personal property is given to secure a loan, then you need to perfect your lien by taking physical possession of the property for the duration of the loan. An attorney can explain how this is done.)
My father(a US citizen) passed away(natural death) outside the USA(Tijuana, B.C. Mexico) so all death certificates and contingent paperwork originates from Mexico.
We live in San Diego, CA and there are several things I need to take care of that I cant find a easy answer to:
**1)my parents own a home in San DIego as joint tenants, meaning if one of them dies, the other person keeps the property without having to go through probate! thank god!
**2)do I have to let the county of San Diego through the recorders office about my father's death? If yes, what do I need to file or take with me? ** I went there hoping to ask them what they wanted to see and they said they could care less if I reported it to them or not......which was weird..
But dont I have to record my father's death with them so that at least he is taken out of the house deed/paperwork?
**3)As for the mortgage that they have on the house, we will continue to make payments as normal, is there anything we need to provide the mortgage company or do regarding the home and home mortgage?
Thanks in advanced for your answers/tips:
Ben
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