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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 32086
Experience:  Over 5 years in practice
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I lent my brother several thousand pounds a few years ago (2006)

Customer Question

I lent my brother several thousand pounds a few years ago (2006) to help him try to finance his house in the USA. The loan was made at 0 percent interest. I received a legally drawn up promissory note from his lawyer in America. There was to have been a "balloon" payment of the whole amount the following year. Things went bad for my brother and he lost his house i have not asked him for the money since. More recently our mother died and she left her house to me and my 2 brothers equally (We are also joint executors.)
I believe now is the time to try and get my brother to repay his debt to me. Is the american promissory note valid in this country? It is signed and witnessed by my brother and my mother respectively.
How do you go about in enforcing it? Do I write a letter? Take him to court? (We are not talking.) Please help. We have not sorted out the probate yet even though my mother died 5 years ago i would like to sort out this loan repayment before the probate is done or at the very least receive my money from my brothers share of my mother's estate at the same time it is all sorted out.
Submitted: 3 years ago.
Category: Law
Expert:  Clare replied 3 years ago.
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How much did you lend him?
Customer: replied 3 years ago.

$12,000 (Dollars U.S.)

Expert:  Clare replied 3 years ago.
What assets and income does he have at the moment?
Customer: replied 3 years ago.

I have no idea what income he has at the moment.

As regards ***** ***** as soon as the probate is done on my my mother's estate and her house is sold he wil be left with a sum many times his debt to me.

Expert:  Clare replied 3 years ago.
Have you asked for the debt to be repaid at any time in the last six years?