Legal Question in Bankruptcy in California

i made a personal loan to a friend 3 years ago for 50,000.00 he paid me every month until one year ago now he is going chapter 7 all mony paid was interest only i was supposed to get my full amont back they are having a meeting of his creditors should i go or will this do any good i was included in his chapter 7 i do have a signed notr from him


Asked on 3/15/10, 3:08 pm

1 Answer from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

Keep track of his bankruptcy. If he does not receive a discharge and the case is dismissed or simply closed, you can pursue the debt. If your former friend receives a discharge, then you will not be permitted to ever collect the debt, unless you can prove that the debt was procured by fraud or that your friend intended to harm you when he made the promise to pay.

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Answered on 3/20/10, 5:06 pm


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