Legal Question in Bankruptcy in New Jersey

Loan

I am going to lend someone $8,000 and I have a promissory note that I have typed up, but I am curious to know one thing. If the person, for whatever reason, files for bankruptcy, would that affect the money owed to me? Can I put some type of provision stating that regardless of bankruptcy, this loan must be paid back? If the individual agrees and signs it, does this override any law of bankruptcy if indeed it does affect money owed to me.


Asked on 6/04/08, 10:21 am

1 Answer from Attorneys
Robert Davies The Davies Law Firm, P.A.

Re: Loan

I can not advise you about all the things that could happen. However, if the person files bankruptcy, it will affect you. you might not get paid back one dime.

talk to a lawyer and get some advice before putting this much money at risk.

Read more
Answered on 6/04/08, 11:34 am


Related Questions & Answers

More Bankruptcy Law questions and answers in New Jersey