life insurance loan

[joemuni]

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.

 

[djohnson]

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.