Santa Barbara, CA asked in Bankruptcy and Collections for California

Q: I gave a personal loan of $9500 to someone who's now filing bankruptcy. Is there anything I can do to get my $ back?

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1 Lawyer Answer
R. Grace Rodriguez
R. Grace Rodriguez
  • Bankruptcy Lawyer
  • Chatsworth, CA
  • Licensed in California

A: It depends on a number of factors as to whether you can get your money back. As an attorney the first thing I would want to know is whether this person is filing a Chapter 7 or a Chapter 13 bankruptcy.

If filing a Chapter 7 Bankruptcy, and the Debtor has assets or makes to much money to legitimately be in a Chapter 7 bankruptcy then you might have a shot at getting some or all of your money back.

If filing a Chapter 13 bankruptcy, again you might get some or all of your money back.

Most attorneys provide a free consultation. I would recommend you go see an attorney who can look at the bankruptcy online and for a nominal fee could tell you what the schedules say so you can make the determination if there is something there to pursue!

Just because someone files Chapter 7 bankruptcy, doesn't mean that's the end of the road. It just means you have to stop your collection activities outside of bankruptcy and then go to the bankruptcy court to determine what can be done.

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