Legal Question in Bankruptcy in California

Small Business Administration Loans

During the 1994 Earthquake, I lost all my belongings and applied for and was given a Small Business Administration Loan through FEMA to help me start over. Would that loan be dischargeable if I filed a Chapter 7 Bankruptcy ?


Asked on 5/21/03, 3:53 am

2 Answers from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: Small Business Administration Loans

Yes, it should be unless it was a secured loan.

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Answered on 5/21/03, 4:01 am
Alvin Tenner Law Office of Alvin G. Tenner

Re: Small Business Administration Loans

Unless it was a secured loan, then it is dischargeable. Even if secured, it still may be dischargeable depending on what the security is.

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Answered on 5/21/03, 9:15 pm


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