If your car is repossessed and the person who cosigned for you files bankruptcy are you still liable for the repossession?
Yes. If you default on your car loan you will remain liable for the debt.
Asked in Law & Legal Issues, Senior Citizens
Can a lien be put on my property if im a senior citizen without going to court 1st for cosigned car?
Unfortunately if you cosigned a loan that means you were willing to pay the loan if the other signer defaults and if that happen they will go by any means to collect that money that you "cosigned/said" you would cover if the other person defaults. I would go after that person that you cosigned for if it has gone this far. ...
If you cosigned a loan and then went bankrupt and the original loan person skipped on the loan are you now liable as the cosigner even though you went bankrupt before?
Yes you are still responsible, especially if you didnt put it in your Bankruptcy, Any obligation you dont include you are still responsible for ...
Someone cosigned a loan for me and I since lost my job can this person file suit for the entire loan or just what she cosigned for?
No, you would have to redo the loan.
What happens if a loan is in default and the co-signer who put up the collateral is deceased?
The person who was "cosigned for" is still liable and the collateral is still collateral, it's just owned by the estate now. Same laws still apply ...
Asked in Deeds and Ownership
What happen if you have life use of home and person on deed file bankrupt?
It does not affect your life estate. But the title to the property can be sold or transferred, subject to the life estate. ...
Asked in Law & Legal Issues
What happens if you were a cosigner on an auto loan but now your credit is terrible and you are in a credit consolidation program?
As far as the auto loan you cosigned for, nothing will happen as long as the person who actually borrowed the money makes the payments on time. ...
Asked in Vehicle Titles
If a person cosigns on a vehicle loan and is listed as the primary buyer on the title and the person they cosigned for has refused to make any payments can the the cosigner regain ownership of the car?
If a person's name is listed on a title, that person owns the car. If a person merely cosigned the note, that person's name will not be on the title. If you own the car, you certainly can take physical possession of it. ...
If you cosigned for a school loan and you and the other person are no longer together how can you get your name off the loan?
Unfortunately when you cosigned the loan you are on it - no matter the outcome. You could check what your options are with the lenders incase they have their own set of rules or/also check with a lawyer. ...
How do you go about getting a car back that you cosigned for if the other person is not making payments?
CALL THE LENDER. They can advise you and work with you.
Asked in Abstract Nouns
What is the abstract noun for bankrupt?
The abstract noun form of the verb 'bankrupt' is bankruptcy. The noun 'bankrupt' is an concrete noun as a word for a person who has officially admitted that they have no money and cannot pay what they owe, or judged insolvent by a court. ...
Asked in Parts of Speech, Nouns
What is the noun of bankrupt?
The noun 'bankrupt' is a singular, common, concrete noun; a word for a person, a business, or an organization declared by law as unable to pay outstanding debts; someone or something completely lacking in quality or value; a word for a person or a thing. The word 'bankrupt' is also a verb and an adjective. ...