Mine is just a personal loan.
2007-12-17 19:06:25 · 6 answers · asked by jimlou o 2 in Politics & Government ➔ Law & Ethics
Yes, they could. However, if they do, the court will advise you where and when the hearing will take place so you can be there to ask the court to force them to pay you. You would get a notice in the mail. ♥
2007-12-17 19:09:51 · answer #1 · answered by Rhiannon 6 · 3⤊ 0⤋
Sorry, but your loan will be part of the proceedings, and, yes, you will be at the bottom of the totem pole. You can attend the hearings and try to convince the bankruptcy court to get your money back, but I doubt it. I once got a loan from a bank, and the next day I filed bankruptcy. The bank lost the $5,000.
2007-12-17 20:04:03 · answer #2 · answered by Balasubas 4 · 1⤊ 0⤋
Bankruptcy covers all debts though some are excluded, like taxes or child support. Your's will be included and you will be at the bottom of the list. You will be lucky to get 10cents on the dollar.
2007-12-17 19:20:31 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Not only "can" your loan be included in the bankruptcy, it MUST be - and it will be behind any other secured loans.
Richard
2007-12-17 19:33:20 · answer #4 · answered by rickinnocal 7 · 2⤊ 0⤋
.. and as a personal loan you would be last in line to collect any assets.
That is the risk of being in the finance business....
2007-12-17 19:12:45 · answer #5 · answered by Barry C 7 · 2⤊ 0⤋
unsecured lenders (ie: YOU) almost never get paid in this case.
2007-12-17 22:21:58 · answer #6 · answered by wizjp 7 · 1⤊ 0⤋