Can I get my loan back? How? 11 Answers as of June 16, 2015

I used a promissory note to loan money to a family friend. Now they are including it in their bankruptcy even though the note expressly stated that they would not be able to do this. What can I do to stop this? Can I just send a copy of the promissory note to someone involved?

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Ronald K. Nims LLC | Ronald K. Nims
There is nothing you can do about it. Your loan will be discharged in bankruptcy. Bankruptcy supersedes the terms of contracts, so you can write anything you want into the contract and it won't make a bit of difference.
Answer Applies to: Ohio
Replied: 6/16/2015
Stephens Gourley & Bywater | David A. Stephens
An agreement to not file bankruptcy in a promissory note is generally not enforceable in the absence of fraud.
Answer Applies to: Nevada
Replied: 6/15/2015
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Such a provision is unenforceable. The debt will be discharged UNLESS you file an action within 60 days of their hearing to have it declared non- dischareable based on fraud. You should see a local lawyer about this.
Answer Applies to: California
Replied: 6/15/2015
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
Those types of agreements are unenforceable in a BK filing. Otherwise every creditor would include the language in their agreements. Pay an experienced BK lawyer for two hours of their time to review the BK filing (they can do this from their office using Pacer). They can then advise you of all of your rights, and what options are available to you. For example, can you object to the discharge of your debt? (see 11 USC 523). Can you object to the debtor getting a discharge at all? (see 11 USC 727). Time is of the essence, so act with all due speed!
Answer Applies to: Colorado
Replied: 6/15/2015
A Fresh Start
A Fresh Start | Dorothy G Bunce
A promise not to file bankruptcy is not an enforceable agreement under federal law.
Answer Applies to: Nevada
Replied: 6/15/2015
    Eranthe Law Firm
    Eranthe Law Firm | Cate Eranthe
    If there are any distributions in the bankruptcy case you can file a proof of claim and receive your portion of the distributions. Otherwise I doubt there is anything you can do. A person can't waive rights to the federal law by putting a clause in a promissory note or other contract. Take your bankruptcy case notices to a knowledgeable local bankruptcy attorney for advice specific to your situation.
    Answer Applies to: California
    Replied: 6/15/2015
    Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
    No. The loan will be discharged whether a document purports to waive the right to discharge it. There is little to do if the loan was a garden variety kind of debt. Some classes of debt get special preference or priority in a bankruptcy, or are not dischargeable at all. But the vast majority of claims are simply lost to the creditors. Consult a tax expert: there may be some tax benefit from having a claim you own discharged in a bankruptcy. Good Luck.
    Answer Applies to: Wisconsin
    Replied: 6/15/2015
    Patrick W. Currin, Attorney at Law | Patrick Currin
    Unless the note was expressly secured by real property or physical property and the appropriate documents to secure the debt were executed, this is an unsecured debt like any other. The language in the note does not trump federal law. Perhaps if they led you to believe this you can avoid the discharge of this debt on the basis of fraud, but that's unlikely.
    Answer Applies to: California
    Replied: 6/15/2015
    Charles Schneider, P.C.
    Charles Schneider, P.C. | Charles J. Schneider
    A person cannot sign away their right to file bankruptcy. You need to consult with an attorney about what other remedies you may have.
    Answer Applies to: Michigan
    Replied: 6/15/2015
    Scott Goldstein | Scott Goldstein
    You cannot in a promissory note waive bankruptcy protections. That provision is completely void.
    Answer Applies to: New Jersey
    Replied: 6/15/2015
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    You would have to file a motion of non dischargeability but I do not think that you can just write that it is non dischargeable.
    Answer Applies to: New York
    Replied: 6/15/2015
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