Can personal loans be discharged?

[antonyeo]

What is the name of your state? California

Can you have a personal loan (between to relatives or firends) discharged in a bankruptcy?

 

[spoiler]

Yes, you can. if you have loans from friends or family members they also need to be included in your bankruptcy. If the trustee finds out about these loans then you will be in big trouble if you didn't add them to your schedule...you can voluntarily pay back anyone you choose after the bankruptcy.

 

[Ladynred]

Is there anything WRITTEN on these 'loans', any kind of agreement ?? When did you last pay them on this 'loan' ??

 

[antonyeo]

Yes their was a simple agreement signed by both parties, but it was never reviewed by an attorney. I also gave him a reciept.

 

[djohnson]

They would be listed just like any other creditor. All the same rules would apply.