Legal Question in Bankruptcy in Massachusetts

Re: Bankruptcy law in regards to personal loans

No. Only if a Bankruptcy Court grants a discharge of the debt to the individual, then the individual would be permanently absolved of any legal obligation of paying back the personal loan.

Re: Bankruptcy law in regards to personal loans

Yes. Provided you list that creditor, w/ name and address in "Schedule F" of your bankruptcy schedules. And provided that you do in fact qualify for bankruptcy protection.

Re: Bankruptcy law in regards to personal loans

Simply "declaring" bankruptcy (that is, filing a petition) does not do it; you have to go through the complete process and comply with all the rules. If you do that, you should get a "discharge", which is the judge's order absolving you of the legal obligation to pay debts. NOTE, however, that if the creditor has a lien (such as a mortgage or an attachment) the creditor could still foreclose the lien unless you take affirmative steps to remove the lien, which is not always possible. You should consult an an experienced bankruptcy attorney about your specific situation, as there may be aspects of your situation that would change the answer.