No...their filing protects & effects THEM - and those THEY owe, not those that owe them. In fact the court along with the creditors of the company is now involved with aming sure all assets owed the company are collected and used to pay it's obligations.....hence where as before you only had the Cos collections to deal with, now you have many parties interested in making sure you pay. And - consider if your thought was at all true - if you filed BK then your employer, or bank, or investment/IRA accounts, etc don't have to pay you.
no
If you fail to pay the mechanic for services then they can put a lien on your car and this has nothing to do with you making the monthly payments on time.
Because they don't. It is a lot of agency's policies.
either OR both
Personally speaking, it is better to settle with a collection agency rather than making monthly payments. Theres only one ceveat....you must pay the collection agency in full. Example, lets say you owe $1000 to a credit card company. A collection agency will say, pay $600 NOW and this will settle the balance. So, if you dont have $600, its a 'catch-22'. You are better off making the monthly payments until the $1000 is paid.
nothing you can do without a title in your name
Amortization is just another name for the monthly payments you will be making. It is not a type of loan.
Only if you stopped making payments and are behind on your on your payments.
Yes, as long as you keep making the payments.
Yes.
Absolutely. That's the responsibility you took on as a co-signer: that you would assume payments in the event the primary could not make them. If that person is making payments mutually agreed to by him and his creditor, then they have no reason to coma after you. However, if because of the Chapter 13 he can't make payments, you become legally responsible for them.
I assume you notified the mortgage company that the daughter is making the monthly mortgage payments on behalf of the mother. If that is the case, the daughter really isn't benefitting from making these payments from the credit agencies, proving mortgage history, and establishing credit on her own. Essentially, the mother would have to refinance the loan to get the daughter on the mortgage with her in order for the daughter to benefit. Even a quit claim deed would only add the daughter to the title, and the mother would ultimately be responsible for the monthly mortgage payments. I hope this information helps. Regards, Total Mortgage Services