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Old 02-09-2009, 06:03 PM
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Insolvency liability Question

I am figuring out my liabilities for claiming insolvency. Part of my liabilities include $15,000.00 that I owe my parents for a college loan. Is there any restriction to claiming debt owed to a relative as opposed to a lender?

I have been looking all over and I can only find a restriction if there is property exchanged between family members.

Any help will be appreciated as I can use this extra money to support my insolvency case.

Thanks again!!!



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Old 02-11-2009, 12:12 PM
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I think you cannot claim the debt that is owed to a relative such as your parents. The reason is obvious as folks may absue this provision!

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