Bankruptcy Forum

Chapter 7 and a loan owed to me

Argh!
10-11-2008, 09:35 AM
I am seriously considering filing Chapter 7. Since a loan owed to me is an asset, what would happen to this?

magyar123
10-11-2008, 09:39 AM
Yes, the trustee will ask if anyone owes you money, and possibly consider that as income for you.

JRScott
10-11-2008, 05:55 PM
In the petition there is a place to put monies owed you. It would become property of the bk estate and the Trustee could seek payment from whoever owes you.

BKParalegal
10-11-2008, 06:04 PM
In the petition there is a place to put monies owed you. It would become property of the bk estate and the Trustee could seek payment from whoever owes you.

Unless there is an exemption in her state for it, i.e. wildcard