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Scam: #2557

Scam Alert


  • Posted By: Anonymous
  • Submitted: 04/01/2011
  • Severity: 10

Nelson & Venie Louise Kerr

Foolish Loan

Johnson City, Tennessee, 37615

I have lent this couple in excess of $8,000.00 From 1984 to 1988 in order to save their home from foreclosure at least that is what they said. I still have the note they signed. They filed for bankruptcy in 1994 and I'm sure they did not alert the court of this debt. After all the bankruptcy court never contacted me.

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Foolish Loan


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I am no attorney nor do I profess to have the knowledge of one. From what I've learned through the years, though, it seems to me that if this couple filed for bankruptcy and did not include their debt to you among those they wanted the court to discharge, this debt wasn't covered by any bankruptcy decision and remained valid. However, I don't know if there are any statutes of limitations for this since the bankruptcy was filed in 1994 and you're talking about it here in 2011. An attorney in your state would be the best one to go to in finding this out. However, if there is no statute of limitations for your case because of specific actions you or they have done, I see no reason to not go ahead and sue these people for non-payment of their debt to you. This seems pretty clear-cut to me...if there is no statute of limitations in your case, and if you do, indeed, have a signed promisary note from them, stating what they owe you as of such and such a date. But you should consult an attorney in your area. This is an awful lot of money to lose if you don't have to...

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