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Old 05-08-2003, 12:54 AM
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Join Date: Mar 2002
Posts: 44

life insurance loan

What is the name of your state? new jersey

I had taken out a loan on my life insurance cash value.

If I cancel the policy, the loan will be paid in full from the
cash value. If I keep the policy, I would need to pay off
the loan in time.

My question is can I include this loan as from a Creditor (Life Insur. Co), and would it be discharged along with other debts, when I file for Bankruptcy ?

Thanks for reply.
Last edited by joemuni; 05-08-2003 at 12:58 AM.
  #2  
Old 05-08-2003, 09:41 AM
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Join Date: Jul 2002
Location: Tennessee
Posts: 3,088
Chances are this is set up as a secured loan so they would still the money or you would have to pay it back in a 13.
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