However, you may not want to default on loans you have gotten from family and friends. Before filing Chapter 7 bankruptcy, you may be tempted to repay those loans from family members or friends.
However, there can be severe consequences if you do so. You should get legal advice before paying a loan to a family member or friend. An attorney at our firm can review your situation and provide guidance on the legal steps you can take, as well as those to avoid when planning to file bankruptcy.
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