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Bankruptcy and Estate Borrowing

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    Bankruptcy and Estate Borrowing

    I have filed for bankruptcy (Chapter 7) before the laws changed.

    One of my debtors is my fathers estate, for the benefit of my mother, for whom I am trustee. I had borrowed a significant sum of money from the estate (perhaps in violation of my fiduciary responsibilities to the estate) and I am wondering if the estate clain would be secured, priority unsecured, or just plain unsecured nonpriority.

    Thank you for your opinions.

    #2
    I believe that would be unsecured nonpriority.

    Comment


      #3
      sounds serious to me. i would get counsults from attys. many of them. and pose the question about 'what if they view it as "violation of my fiduciary responsibilities to the estate". remember that once the attorney beleives you have commetied an act of wrongdoing you might be turned in so please word you questions slowly and carefully.
      Im not an attorney or a trustee. You cant trust me either though!

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