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Your ex has filed bankruptcy and you are a cobuyer on the auto loan what will happen now?
Wiki User
∙ 12y ago
You will be responsible for the loan payments
Wiki User
∙ 12y ago
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How many NAPA auto parts stores went into bankruptcy?
I don't find where any have filed bankruptcy.
Can a cobuyer refinance a auto loan and remove the buyer from loan?
Buy cobuyer I wonder if you mean cosigner on a loan. If this is the case then the answer is no. As a cosigner you are simply agreeing to pay the loan if the person who took it out does not. It is in his or her name and you are responsible for it if they do not pay it.
If you are a co-borrower on a mortgage and the other co-borrower has just filed bankruptcy will this affect your credit rating?
Yes. I co-signed for an auto loan and the other borrower filed bankruptcy without notifying me. I was in the process of buying a home and before I went to settlement they pulled my credit again and her bankruptcy came up - preventing me from getting the house. So yes it will affect your credit because it will show up on your credit report that that person has filed for bankruptcy.
If you have affordable auto insurance before filing bankruptcy based on good credit do you have to tell the insurance company you filed?
BK will not affect any insurance policies that are already in effect.
Auto Loans With Bankruptcy?
Bankruptcy is a life event most people want to avoid; however, it can happen to the best of people. Economic uncertainty and layoffs have led many people to have to file for bankruptcy. Many people just need an opportunity to start over with their financial life. Although it may be a little more difficult, it is possible for people to secure auto loans with bankruptcy on their record. The type of bankruptcy makes a difference. A chapter 7 bankruptcy gives a person the opportunity to start completely over. Lenders will look at the person's ability to pay for the auto loan. Auto loans with bankruptcy on the record may take more creative work, but it is possible to obtain.
Can you co-sign for a car loan if you went bankrupt?
It is possible that you could cosign an auto loan after you filed bankruptcy. It is not likely though. It would depend on a number of factors, not the least of which is your current credit number.
How can you get your title back if you have filed bankruptcy and the lien holder did not show up for the meeting of creditors?
The creditor does not waive the lien on your auto simply because they did not appear at the 341 meeting of creditors. It is your responsibility to reaffirm (new contract) or surrender the auto. There are situations that may exist where you can avoid their lien if the liened property is not properly perfected. Bankruptcy is not black & white. It is strongly advised that you seek counsel.
What if you have filed bankruptcy without a reaffirmation letter on the vehicle and you stop making car payments for two months. The leinholder sends no repo letter and does not come to get the auto.?
Yhe lender cant do everything at once,they will get around to you and your car.
Can you get an auto loan after filing for bankruptcy but before it is discharged?
Yes, you can get an auto loan before bankruptcy discharge. If you have filed a chapter 13 bankruptcy, you must receive permission from the court trustee. Contact your attorney to begin the process. The court will set limits as to maximum loan amount and monthly payments. DO NOT apply for a loan of any type before getting approval from the court! Doing so could be grounds for dismissal of your bankruptcy, depending on the regulations of your particular court district. If you have filed a chapter 7, there are certain automotive lenders who will finance you after you have attended the (sect. 341) meeting of creditors. However, if you are unable to find one of these lenders, your discharge is usually granted within a few weeks of the 341 meeting and you will be able to purchase then.
Can a person release after 5 year as bankruptcy?
Some countries like Thailand and Indonesia has ruling of auto discharge of a bankruptcy after 3 years.Is there such a rule in Singapore, auto discharge of bankruptcy?If there is, what is the procedure like and for how many years?
Do you have to get full auto coverage if you file bankruptcy?
If you're auto payment is included in your bankruptcy, then yes, they will require you to keep full coverage as long as there is a secured balance on the vehicle.
Can a buyer remove a co-buyer from auto loan?
Well, it depends how the title was written. if it says buyer "or" cobuyer you dont need the other persons signature for anything .... if its written with "and" between your two names, u will have to have both people present to complete any removals or transfers. That or you can have the cobuyer sell u the car. They will still need to be present though.
