Are personal loans considered debt in bankruptcy?
I owe loans to a former partner of mine. I am thinking about filing for chapter 7 bankruptcy. I want to have these loans discharged. What kind of documentation will I need in order to included these on my bankruptcy?
Answered By: Lorene Lynn Mies, APLC
You must list all debts in bankruptcy even personal loans. You will list who you owe the money, address, and amount due. The lender will reply with a proof of claim if they feel the amount of debt is different than you stated on your bankruptcy petition.
Answer Applies to: California
Replied: 8/27/2010
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 8/27/2010
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: Diefer Law Group, P.C.
Yes, these loans can be included in your bankruptcy.
Answer Applies to: California
Replied: 8/24/2010
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 8/24/2010
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
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