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John Legal
John Legal, Attorney
Category: Legal
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Experience:  Over 15 years legal experience.
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I loaned my brother in law 65000 dollars some years ago,( around

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I loaned my brother in law 65000 dollars some years ago,( around six), with an agreement on percentage payback. The economy went belly up and my return has disappeared. This money was put into Ohio real estate where he owns multiple properties. He has just claimed bankruptcy. Does this mean I have no recourse?
Welcome! Thank you for your question.

Do you know if he reported the debt to you with his bankruptcy filing? You would have received notice of this.

Customer: replied 4 years ago.

I have received no notice. As far as I know this loan was "off the books".

That is good news, actually. Your loan is not discharged in bankruptcy unless he actually includes you in the filing. I know the loan was made 6 years ago, how long has it been since he made a payment?
Customer: replied 4 years ago.

I believe the last check he sent me was for $300 on 08 MAR 2013.

Knowing the debt was not discharged in bankruptcy and that it has only been a few months since the last payment you have plenty of options. You can continue to work with him to get agreement from him to pay.

If he refuses then you can file a civil suit against him. This would need to be done in common pleas court given the dollar amount is over $15,000. You have 6 years from the date of the last payment to file suit because the statute of limitation on an Oral Contract is 6 years from the breach (last payment) of the contract. ORC 2305.07

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