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promissary note

promissary note can a judge rule that the loan has to be repaid if the lender goes bankrupt thankyou

Posted from: Ontario

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One Response to “promissary note”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

There is no way for a judge to rule that a loan has been paid if it hasn’t. But if you file for bankruptcy you will legally be absolved from any debt connected to a promissary note that relates to something the bankrupt owes. If the promissary note is an asset of the bankrupt then the trustee will be charged with collecting on that promissary note for the general benefit of the creditors.