personal loans & Bankruptcy

[sind]

I have friends that have loaned me $24,000 for school loans and my mobile home. The agreement (verbal not written) was when I get my nurses lience that I would start paying it back. All along I have been paying $100 a month to them but as of the first of the year I have started paying them $400 a month.

my friends brother moved in with me and my girls 7 months ago and has not paid any rent the whole time he has been living with me, which was ok with me I was trying to help my friend out but helping her brother. My friends brother has no come unbearable to live with, arguing with my kids and just trying to piss me off. i have asked him to move several times and he even called police on me because I threw his crap out of my house. he called police and I had to put his crap back and I have to legally get him out.

Ok I am getting to my question, My friend is furious that I want her brother out of my house. They are threatening to sue me and take my house and give it to her brother since I still owe them money on it. My payments are up to date and I plan on keeping them that way. My name only is on the title of the home and my name only on the lease with mobile home park.

My question is if I file bankruptcy could they take my mobile home away from me? they are saying they can, they can afford an attorney and I cant so thats why I am here looking for advise. can someone help with what ever info I can get.

Thank you in advance

[Drazil65]

Hi, OK I am not sure they can foreclosed based on a verbal agreement between you. Did they file a lien on the MH? I guess you should look up the laws on verbal agreements with the intent to pay since you have been paying something towards the loan with them. That would show intent and proof I guess that there was a verbal contract between you. But I cannot imagine that if they did not perfect the lien that they would have any grounds to take it. Of course I think they probably could still go ahead and do that.

If you file chp 7 the debt will be discharged and then you could sign it over to them if you want to because they seem to be nothing but trouble with this whole brother thing and that is too many strings attached to the loan. I guess that is the price of mixing loans and friendship! Good Luck!

[helpmeout]

Anything in writing at all? If there is nothing in writing, it is extremely unlikely that they would even be able to get a lien on the mobile home.

Generally, it is not a good idea to take legal advice from a creditor (and that is what your friend is).

Also, no they can't just take it unless there is legal paperwork that says it is collateral for a loan and that they have the right to pursue a foreclosure.

A BK will discharge any debt, perceived or real, with the exception of student loans. However; given that it appears that there is no paperwork to prove that the money was a student loan, chances are it will be discharged in a BK. And if there is no lien or mortgage (in writing and filed properly) on the mobile home, then chances are the equity is the entire FMV of the mobile home. And unless you can exempt it, the Trustee can go after it.

Oh, and even if the loan on the mobile home is in writing and filed properly, they can't take it from you as long as you keep up the payments as agreed to. They are blowing smoke. Go to court and get the brother legally evicted.

[mlsj2009]

I have friends that have loaned me $24,000 for school loans and my mobile home. The agreement (verbal not written) was when I get my nurses lience that I would start paying it back. All along I have been paying $100 a month to them but as of the first of the year I have started paying them $400 a month.

my friends brother moved in with me and my girls 7 months ago and has not paid any rent the whole time he has been living with me, which was ok with me I was trying to help my friend out but helping her brother. My friends brother has no come unbearable to live with, arguing with my kids and just trying to piss me off. i have asked him to move several times and he even called police on me because I threw his crap out of my house. he called police and I had to put his crap back and I have to legally get him out.

Ok I am getting to my question, My friend is furious that I want her brother out of my house. They are threatening to sue me and take my house and give it to her brother since I still owe them money on it. My payments are up to date and I plan on keeping them that way. My name only is on the title of the home and my name only on the lease with mobile home park.

My question is if I file bankruptcy could they take my mobile home away from me? they are saying they can, they can afford an attorney and I cant so thats why I am here looking for advise. can someone help with what ever info I can get.

Thank you in advance

First of all, it is obvious you need a lawyer. I am not a lawyer, so don't take this as legal advice, but here is my take on what you wrote.

Technically, from what wrote, you have a good title to the trailer without lien with only your name on it, and you have a handshake for a loan. You own the trailer, and you can evict the brother. And in my humble opinion, that is exactly what you should do. You can do that by filing a court order for eviction against him. If he retaliates in any way physically, like damaging the property, have him arrested. The same if he retaliates against you or the kids.

The brother and sister most likely will not be able to take the trailer from if you want the trailer because you have not violated your agreement. They will have the burden of proof to establish what the agreement was before a court of law since nothing was written down and you have the title in your name. To take the trailer would require them to bring a lawsuit against you in a court of law, and they would have to prove you violated the terms of the verbal agreement to force you out. If what you stated is true, I have my doubts they will be able to force you out.

Right now, it sounds like you have everything going your way, it all depends on what you want, and how you now really value their friendship. Filing for bankruptcy might complicate the situation to where it may upset the balance that is currently in your favor. A trustee can seize the trailer and sell it to satisfy your unsecured creditors if you do not have an exemption for it. If the friends do not have a security interest where they perfected the lien, this opens up a problem for them and for possibly you too as far as the trustee taking the trailer to liquidate, especially if you file Chapter 7. Unless of course, you have an exemption worth the $25,000 value of the trailer or whatever it is currently worth.

I hope you see where I am going with this. If you have not other debts and this is your only problem, I would use the fact that they have not perfected a lien yet to my advantage. I would insist the brother start acting right or evict him, for your safety, your children's safety, the property, and for clarification of who really owns the property. It doesn't really matter whether you have paid the loan or not yet, you are making timely payments, according to your agreement. I wouldn't sign anything either until you get back into control of your home, ie have the bum thrown out. This sister is not a good friend if she is holding you up for some type of ransom, meaning allowing the brother to behave badly just because you owe them money. Not nice, and probably not wise.

Hope this helps. Good luck with whatever you decide to do, but I would consult with a lawyer and get the problem eliminated, especially if it were not part of the agreement to begin with.

[LadyInTheRed]

Sind, based on your other posts, you received a discharge in a Chap 7 that you filed Jan 2011. You cannot file another Chap 7 until January 2019. The soonest you can file a Chap 13 and get a discharge is January 2015.

Did you borrow the money from your "friend" before or after Jan 2011? If after, was she listed as a creditor and did she get notice? If she didn't get notice, was your case an asset case?

[DesdemonaB]

Sind

The fact you have been making payments and increased the repayment amount could be viewed as an agreement in court. You rarely see someone repay a “gift”.

You would have to breach your agreement by non-payment in order for them to sue you, and because you are current on your repayments you have not breached your agreement therefore they have nothing to sue for.

What you need to do is get the brother out legally. Start by giving him a written 30-day notice it needs to be mailed Certified Return Receipt so you have to mail to your own home, in CA a landlord does not need to give reason. While he is huffing and puffing you can start the process to file an unlawful detainer lawsuit. I understand that in CA it’s a summary process and you could be in front of a judge within 20 days( if he fails to leave within the 30-days) and he would have to be out in 5 days or face the sheriff.

Here is a summary view of the eviction process in CA: http://www.dca.ca.gov/publications/l...victions.shtml

You need to remind friends that your agreement was a loan of money for the use of school and housing, not to allow an unbearable “roommate” to live in your home. He has out stayed his welcome, it didn’t work and you need to lookout for your children and argumentative man is not a good example for your girls.

Good luck with everything, keep us updated.

[SMinGA2]

Looks like the OP posted this question in 2010 before filing - and someone replied a couple of days ago. Doesn't look like Sind is on the boards anylonger...

[daveinIL]

Looks like the OP posted this question in 2010 before filing - and someone replied a couple of days ago. Doesn't look like Sind is on the boards anylonger...

The thread was just started on 07-01-2012...and sind is online right now.

[SMinGA2]

Oops. I thought the top post said 2010. Sorry!

The thread was just started on 07-01-2012...and sind is online right now.