It's a little hard to tell what you mean by "old debtors" in this question, but if you mean your creditors, people that you owe money to, here is a general answer: Your creditors are entitled to ask you for what you owe them, unless you have filed a bankruptcy petition, in which case the bankruptcy trustee and court will make the determinations. Assuming no bankruptcy, any creditor who is not paid is entitled to sue you for the debt, although the statute of limitations could bar the suit if the creditor waits too long. If a creditor sues you and wins a judgment against you, then the creditor (now known as the judgment creditor) is allowed to try to collect the judgment against you (now the judgment debtor) by various methods such as wage garnishment, bank levy, etc. One other way, not often used because of the expense, is to levy on real property, putting it up for sale to pay off the judgment. If your land has equity in it, and a creditor has a judgment against you, then it's possible that the judgment creditor would seek to have the property sold to satisfy the judgment. I hope this answered your question. Good luck to you.
Answered on Jan 17th, 2013 at 8:12 PM