I have a personal loan with a relative that was secured with a promissory note and a lien on her property that was filed with the state. The loan has been determined to be uncollectible for a lot of reasons.
Is my bad debt write off for the principal only?
For the principal and stated interest? Or for the amount that the attorneys tried to collect (this amount with its own docket number includes principle, interest and legal fees).
Thank you in advance for any assistance.