What is the name of your state?Colorado
When I filed bankruptcy a policy loan from my life insurance was included on list of creditors as a disputed debt. The insurance company sent ME a letter stating that a "policy loan is not considered a debt in bankruptcy law, therefore any loans on my policy would NOT be effected by bankruptcy ." The cash value was listed on personal property, and exempt schedule it was not listed on our intention schedule the only debts listed were our mortgage and car loan. The insurance company did not file a claim or object to the discharge.The discharge was in Feb. Feb is also the month I get my annual statement and interest due bill. I called and asked them if they recieved discharge notice , they said policy loan are usually not discharged unless there is a court order. Well isn`t the discharge notice a court order? This insurance company has bullied me and bluffed in the past is there something I can do? They have lied about every thing else I don`t trust them. I have called, e-mailed and written my attorney he is no help. In fact at my 341 meeting he almost did not show up. He was 2 hours late and just happened to be there because another client had 341. He did not even have my file, I had to run to his office and get it for him. He did not have me on his schedule even though I called and faxed information the day before. Trustee was not impressed.But that is another story!
When I filed bankruptcy a policy loan from my life insurance was included on list of creditors as a disputed debt. The insurance company sent ME a letter stating that a "policy loan is not considered a debt in bankruptcy law, therefore any loans on my policy would NOT be effected by bankruptcy ." The cash value was listed on personal property, and exempt schedule it was not listed on our intention schedule the only debts listed were our mortgage and car loan. The insurance company did not file a claim or object to the discharge.The discharge was in Feb. Feb is also the month I get my annual statement and interest due bill. I called and asked them if they recieved discharge notice , they said policy loan are usually not discharged unless there is a court order. Well isn`t the discharge notice a court order? This insurance company has bullied me and bluffed in the past is there something I can do? They have lied about every thing else I don`t trust them. I have called, e-mailed and written my attorney he is no help. In fact at my 341 meeting he almost did not show up. He was 2 hours late and just happened to be there because another client had 341. He did not even have my file, I had to run to his office and get it for him. He did not have me on his schedule even though I called and faxed information the day before. Trustee was not impressed.But that is another story!