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Question
My brother is going bankrupt. I was wondering I loaned him money, can he list this money on his bankruptcy?
all debts owed as of the date of filing are properly listed in the bankruptcy case, so yes, he can list you to discharge his legal obligation to pay. he can pay you back, but should discuss with his lawyer when, ONLY IF HE WANTS YOU TO PAY. You cannot collect on it if he files the case.
Also, if he pays you back right before the case, that could force the trustee in his case to ask you to pay those funds to the trustee to distribute to all creditors.
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Bankruptcy Law
Answers by Expert:
Terry Leeders
Expertise
Handles Chapter 7 and Chapter 13 bankruptcy cases.
10 years of extensive bankruptcy experience. Filed over 3000 cases
Chicago Bankruptcy Lawyer website
"One On One Personal Service You Deserve"
Experience
I have been practicing bankruptcy law for 10 years. I have helped over 3000 consumer bankruptcy clients in that time.
Organizations
Chicago Bar Association
Illinois Bar Association
Publications
author of Chicago Bankruptcy Blog
Chicago Chapter 13 Bankruptcy Blog
Illinois Bankruptcy Law Blog
Fresh Start Partners
Education/Credentials
University of Illinois
Thomas M. Cooley Law School
Chicago Bankruptcy Lawyer website
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