Legal Question in Bankruptcy in Massachusetts

Personal Loans and Personal Bankruptcy

I am considering personal bankruptcy, chapter 7. Among my debts are 2 personal loans to 2 individuals, non-secured. Can I include these in my bankruptcy. Also, a ''company'' has a judgement against me....can I get rid of that debt as well?


Asked on 10/25/04, 4:37 pm

2 Answers from Attorneys
David Baker Law Office of David Baker

Re: Personal Loans and Personal Bankruptcy

In a bankruptcy case, you MUST list ALL debts, no matter who you owe the money to; in fact, you should list anyone who CLAIMS you owe them money, even if you think you don't. Also, all assets must be listed. You can't leave ANYTHING out. That doesn't mean that the debt will automatically be discharged, however, because some debts (such as alimony or support) usually are NOT discharged. If you want to talk about your specific situation, call for a free consultation. David Baker 617-367-4260

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Answered on 10/25/04, 5:56 pm
Barry Levine Law Office of Barry R. Levine

Re: Personal Loans and Personal Bankruptcy

Both the non-secured personal loans and the judgment possessed by the "company" should be dischargeable in a personal bankruptcy. I would be pleased to sit down and review your situation for purposes of developing the most appropriate strategy for extricating yourself from the financial situation you face. Barry

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Answered on 10/25/04, 6:34 pm


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