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PROOF OF CLAIM in Chapter 7 Bankruptcy


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Posted by Luz (24.126.209.231) on March 21, 2003 at 17:02:00:

Background: My now ex-business partner turned in a loan application for a business line of credit and was given the loan. The bank never checked with me to verify my signature or if I was a willing co-signer. After discovering what had happened and money had been withdrawn from the account, the bank would do nothing to stop further withdrawals. The only way to stop the loan was change the conditions of the business, which I did by withdrawing from the partnership.

Last year he filed for and was given Chapter 7 bankruptcy protection. The bank is now demanding repayment from me. The bank that originated the loan was named as a creditor in his bankruptcy filing but I was not. I was advised by an attorney to file a PROOF OF CLAIM. My question is, did this make me a creditor in the bankruptcy and therefore was I discharged as well? Or do I stil have the right to sue for the total amount. I do have proof that the monies were not used for business purposes.

Next question; is my husband liable for any of this debt if the bank sues me. Am I a separate entity in this case since it was a business transaction?


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