Legal Question in Credit and Debt Law in California
Loans to children & they will not repay
Pain off daughters and husbands debts. They agreeded to pay $346.00 a month, this is what it came out as on the loan from the bank. They have yet to pay a dime. We also paid off the irs and credit union for their little truck, separate from the other money loaned, which they agreeded to pay back. We now have to declare bankruptcy because of them. We brought them out from Michagan, under the premise that they both of them would get a job, and start paying us back. Yah, when hell frezzes over! After a year and a half, I finally thru them out. They were not even paying for foood, rent, or utilities.
Can I go back and declare them as bad debits? Any information would be helpful.
Also any information on how to get back the money that they borrowed and agreeded to pay back would be helpful.
Right now they are living with my son-in laws mother, again, for free. This is really getting bad.
1 Answer from Attorneys
Re: Loans to children & they will not repay
If you file for bankruptcy, the money owed to you becomes property of the bankruptcy estate. It will be up to the trustee to take legal action against your daughters and their husbands to collect the money owe and pay it to your creditors.
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