Legal Question in Bankruptcy in Georgia

when can I file bankruptcy safely

I borrowed money from a friend to start a business venture but ended up in serious debt. I was able to return about 80% back to my friend (still owe him). When I went to see bankruptcy lawyer I was told that because I returned 30k to my friend I should not file because the creditors would go and try to take the money from my friend and split among the creditors. This was 6 months ago. Will I ever be able to file bankruptcy? I am willing to do anything including give up my 401k worth 10k. I need debt relief but will not do it at my friend's expense. Please advise.


Asked on 3/27/07, 6:59 pm

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: when can I file bankruptcy safely

You said you went to see a BR lawyer. You can't get better advice in a forum like this, posting only a couple of sentences about your situation. Call the same lawyer to see if the situation as changed, or make an appointment with another one. If your concern is paying your friend, there is no law against voluntarily repaying a debt after bankruptcy.

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Answered on 3/28/07, 8:19 am


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