How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
Richard, Attorney
Category: Bankruptcy Law
Satisfied Customers: 55444
Experience:  Attorney with 29 years of experience.
Type Your Bankruptcy Law Question Here...
Richard is online now
A new question is answered every 9 seconds

Can file bankruptcy on a promissory note if it contains this

This answer was rated:

Can file bankruptcy on a promissory note if it contains this sentence "Borrower is providing a personnel guarantee of payment and agrees to pay us no matter what State and Federal laws state and even if bankruptcy is claimed"

I don't want to file bankruptcy and I want to pay his money back. I just need to know if its an option down the road if I become financially unable to pay him back.
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good morning. The American Bankruptcy Institute provides: "Courts will not enforce agreements waiving the right to file for bankruptcy or waiving all consequences of bankruptcy. For See, e.g.,In re Weitzen, 3 F. Supp. 698 (S.D.N.Y. 1933), citing Federal Nat ’l Bank. v. Koppel, 148 NE 379 (Mass. 1925);In re Madison, 184 B.R. 686 (Bankr.E.D.Pa.1995) (agreement not to file bankruptcy for certain time period is not binding)." Thus, your lender is not going to be able prevent you from including this note in a bankruptcy filing based on this waiver.

Thank you so much for allowing me to help you with your questions. I have done my best to provide information which will be helpful to you. If I have not fully addressed your questions or if you have any follow up questions, or if I have misinterpreted your questions in any way, please do not rate me yet, but simply ask a follow up question without rating so I can provide you with a fully satisfactory answer. If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service with 3, 4, or 5 faces/stars so I can receive credit for helping you today. I thank you in advance for taking the time to provide me a positive rating!

Richard and other Bankruptcy Law Specialists are ready to help you
Thanks so much for the positive rating and bonus! I appreciate your kindness and the opportunity to serve you! If I can be of assistance to you in the future, just look me up and I will be happy to help! For easy access, my bookmark is:

Related Bankruptcy Law Questions