Legal Question in Bankruptcy in California

Re: Borrowed Money

Obviously, he's being quite nasty -- threatening bankruptcy if you try to collect what you are due. If he carries out his threat, you can file a motion to determine dischargeability of debt, based upon his intentional harm to you and fraud. In essence, you can assert -- an probably have proof -- that he took your money never intending to repay you. That would except his debt to you from bankruptcy discharge.

The Porsche and Harley might still have equity that you could reach, even beyond the exemptions he's permitted.

If he owes you $7,500 or less, you can take him to small claims court. A judgment would be good for 10 years, and can be renewed for another 10 after that.