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Chapter 7 and a loan owed to me

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    #1

    Chapter 7 and a loan owed to me

    I am seriously considering filing Chapter 7. Since a loan owed to me is an asset, what would happen to this?
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    #2
    Yes, the trustee will ask if anyone owes you money, and possibly consider that as income for you.

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      #3
      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.
      May 31st, 2007: Petition Filed by my lawyer
      July 2nd, 2007: 341 Meeting Held
      September 4th, 2007: Discharged and Closed.

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        #4
        Originally posted by JRScott View Post
        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
        Disclaimer: I am not an actor on TV, but I play a BK Paralegal in real life. Nothing I say should be construed as legal advice, or really anything but entertainment. Please seek out professional help.

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