Well my parents took out a personal loan for me 2 years ago and they went bankrupt this year. did that loan get wiped out (and i am still paying them for nothing) or are they still truly paying the loan still?
It is always possible they re-affirmed the loan, meaning that you still have to repay the loan. if you have the account number, you could try calling the bank and checking on the status of the loan.
Banks alway secure their loans, so this will come out of any of their assets?.why not check this out with a trustee who deals in bankruptcies?ALSO?you should have a talk with your parents?.find out what is going on?
Quite truthfully?your parent's finances are their problem?.This does not absolve you from your responsibility in paying them back??.in the bankruptcy, they will have to explain all their debts and that includes the fact that they took out a loan for you!!!!
Just a point of fact?they will have to declare all the monies OWED TO THEM, and if you signed an agreement with them that you owe them this money?the Trustee will be contacting you for payment of the amount outstanding?.
Sorry, but, what is this comment your made?"paying them for nothing??" not impressed..Your parents may have goofed up. but, you need to act responsibly
Source: http://www.financetalkinghub.com/what-happens-to-personal-bank-loans-when-you-go-bankrupted.html
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