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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2815
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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I lent a very close friend of min $65,000 and now she is filing

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I lent a very close friend of min $65,000 and now she is filing for Chapter 7. She doesn't have any assets that she could liquidate. I've been notified of the meeting of Creditors, should I even bother attending? Of course I'd like my money back but what are the chances that I will get it back. She's also gotten personal unsecured loans (like mine) from five other friends totaling about $130,000. If I do get a lawyer, will the lawyer be able to get my money back?
Unfortunately, you are an unsecured creditor. You can no longer collect on the debt. Unless the trustee liquidates assets, you will not receive any money. Unless there was fraud in a written agreement, or if the debt was incurred within the last 90 days, then you are probably out of luck unless they want to pay you back. You won't need a lawyer unless there was fraud and you need to file an adversary. The trustee in the case, represents you as well as all unsecured creditors. IF there are assets for distribution, you will receive a proof of claim form to fill out so you can get paid from the proceeds. Best of luck.
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