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bank loan

what happens to my bank loan if i file for bankruptcy

Posted from: Nova Scotia

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One Response to “bank loan”

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

As long as you haven’t pledged any of your property as collateral on that loan it should be cleared by the bankruptcy. Meaning the bank will be required to write off the debt as a bad debt expense and will legally have no ability to collect on that debt as long as you complete the bankruptcy as required.