Legal Question in Bankruptcy in Kentucky
No bankruptcy paper
Is it enforceable or legal, for a loan company to have you sign a typed paper that says you cannot file bankruptcy. I think I was made to sign one when I was purchasing a vehicle, but never received a copy. Due to unforseen problems I can no longer afford to pay on it.
2 Answers from Attorneys
Re: No bankruptcy paper
No, you cannot waive your right to file bankruptcy. It doesn't matter if you sign an agreement stating that or not. That portion of the agreement is void.
Re: No bankruptcy paper
Eric is correct; but be careful: sometimes these papers state, not that you can't file bankruptcy, but that you "are not contemplating bankruptcy" at the time of purchase. If it is later revealed that you had, for instance, already spoken to an attorney and started preparation of a bankruptcy, the creditor might be able later to argue that you had made a "materially false statement" in your credit application, and ask for the debt to be declared nondischargeable.
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