Bizarre Little Known Laws

« Back to Home

2023

Borrowing From The Bank Of Mom And Dad? Bankruptcy Questions Answered

Posted on

When struggling with debts, many people turn to borrowing money from friends or family. But what happens to those borrowed amounts if you end up filing for bankruptcy protection? Should you formalize your family loans? To help you and your family or friends decide on the best course, here are some answers to your questions.  How Are Personal Loans Treated? In a bankruptcy, all creditors are treated as official lenders on equal footing with their peers.…

Read More »