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Richard
Richard, Attorney
Category: Estate Law
Satisfied Customers: 53976
Experience:  29 years of experience practicing law, including tax and estate planning.
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My husband loaned his brother $75,000 from our home equity

Customer Question

My husband loaned his brother $75,000 from our home equity line of credit. My husband died and his brother will not repay the loan. What can I do. (Mississippi)
Submitted: 1 year ago.
Category: Estate Law
Expert:  Richard replied 1 year ago.
Hi! My name is ***** ***** I look forward to helping you!
If he won't pay this voluntarily, file suit against your brother in law. Filing the suit will give you the collection options and leverage you need to collect the debt owed you. That's because once the suit is filed and a judgment awarded, you become a judgment creditor, and if he doesn’t then pay the judgment, you can have the sheriff serve a summons on him for a debtor examination. That forces him to meet you in court again and answer questions under oath about his assets. After that information is obtained, you have the power to garnish wages, attach bank accounts, have the sheriff seize other personal property, and/or place liens on any non-homestead property he owns to satisfy the judgment. In my experience, simply filing the suit is typically all you need to do to resolve this outside of court because most of the time, once served with a summons one is being sued, he will want to settle out of court to avoid the judgment being on his permanent record for a suit he has no chance of winning.
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