Absolutely. If the cosigner did not file bankruptcy, the creditor has every legal right to try to collect the money from them. There are some other things to take into consideration, however. First thing to check is the statute of limitations. These vary depending on the state and there are web sites that outline them. If the account has been turned over to an attorney's office, it is vital that you understand the laws in your state in regards to judgments and garnishments. Varying by state, there are circumstances that you could fall under that could protect your wages and bank assets from being garnished (For example, in Missouri, if a husband and wife share a bank account and the creditor only has judgment on one of you, the creditor cannot garnish your bank account because that account belongs to both of you, not one of you).
If the account the cosigner is on is included in the bankruptcy it will appear on their credit report. In most cases the cosigner will not be relieved of the debt when the primary holder files for bankruptcy. The creditor(s) can then pursue the cosigner for the collection of money owed.
No, not unless your name is on the title.No, not unless your name is on the title.No, not unless your name is on the title.No, not unless your name is on the title.
Yes You Can. This Leaves A Mark On Your Credit Report, Plus Since You Did Not File; You Now Are Responsible For The Debt. NEVER EVER COSIGN++++++++++++ MONEY 101 * Probably not. If the debt was discharged in bankruptcy then it is not subject to collection procdures including a lawsuit. In some state filed BK's a cosigner has protection in this area if specific circumstances exist.
When a loan is in arrears (past due), the creditor has the legal right to contact the cosigner unless the loan is included in bankruptcy. The Fair Debt Collection Practices Act states this fact. The sole purpose of a cosigner/guarantor is to guarantee the loan, hence it is likely if no payment arrangements have been made by one, they will collect from the other.
Yes, discharged debts are generally noted as "included in bankruptcy" on a CR.
Not only can the be included, they MUST be included. All debts whether to Walmart or Aunt Betsy needs to be included in your bankruptcy filing.
Yes: Your spouse/children can be included on your insurance policy regardless of who was/if there was a cosigner on the car.
You don't have a choice, ALL debts must be included in your bankruptcy petition. Oh, also, priority debts cant be discharged in a bankruptcy.
Yes, if the tenant is not included in the Bankruptcy creditor list
If the debt that you were sued over, or the judgment itself was included in your bankruptcy, you only need send a copy of your bankruptcy papers to the credit reporting agencies. The judgment will not "come off", but it should get marked "included in bankruptcy" or "discharged through bankruptcy".
The term negative is rather confusing. If the account did not have a balance it would not have been included in the bankruptcy. Any account included in a bankruptcy will remain on the report for the requred length of time, open accounts would be seven years, they will be marked included in bankruptcy. The BK accounts listing will remain for 10.
The charge offs will remain the required seven years and should be noted as included or discharged in bankruptcy.
No. All entries have to be marked "included in bankruptcy". Obviously that only applies if they were actually included.
No. Child support is not dischargeable in either federal or state bankruptcy.
If it is not a secured debt it will be included in the bankruptcy discharge.
Your bankruptcy attorney can help you decide what to include in your filing petition.
Yes, whether or not they will all be included in the BK will be the decision of the bankruptcy trustee.
When you are living with someone they are not included in your bankruptcy. If you are paying them rent, then the money you pay is an expense and will be considered for bankruptcy.
Fines and penalties are NOT dismissable.
yes it is
NO NOT IF THE DEBTS ARE IN THE BANKRUPTCY. If they are included in the bankruptcy, give them your case info/ lawyer's name. After that they can be fined if they continue to call. If the depts are incurred after the bankruptcy then yes they can.
If you're using an attorney for the bankruptcy you have to pay him. Any other attorney bills can be claimed.
That is up to the person filing the bankruptcy. You can include or omit any debt that you choose.
Yes. If they were not included then the bankruptcy doesn't apply to any debt owed to them.