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If any money is owed and the primary on the account can't pay, the you as the co-signer are responsible for the debt. It doesn't matter whether you're resonsible for it or not; as a co-signer, you agreed to take care of it.

2006-10-12 16:24:58
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Related Questions

Can you file for bankruptcy after 3 years of car being repossessed?

Sure


If you have a boat that was listed in a bankruptcy that the lender never repossessed what can you do with it 10 years later?

Nothing unless you receive a clear title of ownership from the lender.


Can your car be reposessed after six years?

If you still owe money, it may be repossessed at any time.


Can a judgment be put on your credit if the debt was part of the bankruptcy?

Not if the debt was discharged in the bankruptcy. If the judgment was on the credit report before the bankruptcy was filed and/or was discharged in the bankruptcy, the entry will still remain on the CR for seven years.


What do you do if you filed bankruptcy 2 years ago on a 1996 Ford pick up and the bank still hasn't repossessed the vehicle?

Ask your B/K attorney for state specific advice. I usually reccommend you call a local towing company to tow it away.


Is a 1991 bankruptcy still on a background record?

My 1990 bankruptcy is still being reported on my credit reports. I was told they may remain for 20 years. So far this is true. We shall see in another two years.


If a car is repossessed what happens if you filed bankruptcy over 5 years ago?

Let me get this straight. You filed B/K over 5 yrs. ago and the car was/is repoed recently? If this is correct, the car will be sold and the lender will want you to pay the balance still owed.


If you file bankruptcy 2 times within 15 years can you still get a mortgage?

it is 120


What are the laws pertaining to a credit reporting agency still reporting after a bankruptcy discharge?

Debts included in the bankruptcy should be noted as such in the credit report. The bankruptcy will remain on the credit report for ten years.


How long bankruptcy after discharged records stays?

1st bankruptcy = 7 years 2nd bankruptcy = 20 years 3rd bankruptcy = life


Why would you still get calls from collection if it has been over 13 years since you had your car repossessed?

Demand verification of the debt.


Can a lender report repossession of a discharged auto?

If they repossessed it as part of the bankruptcy (and you didn't get it back), probably yes. However, the bankruptcy itself is a bigger black mark than the repo, especially since it can stay on your credit report longer (up to 10 years after filing, though some bureaus remove Chapter 13 after 7 years; repos only stay for 7 years).


Can you file a bankruptcy an still apply for us citizenschip?

I think yes..there is no relationship between filing bankruptcy and apply for citizenship.filing bankruptcy is a personal issue its not a any crime or what.its true that it will be remain in your name for some years but it does not affect on your citizenship.


How long does It take to clear bankruptcy?

Bankruptcy is never really cleared. Companies usually stop considering it as an issue for credit, after seven years. It still remains in many consumer reports.


You filed chapter 7 bankruptcy 3012002 it still remains on your credit report can you have this removed because it has been seven years?

No....10 years from discharge


A bankruptcy can not be wiped off your credit report until after 10 years but if the accounts on your credit report which were discharged in the bankruptcy can these be taken off?

The debts which were wiped out in bankruptcy still stay on your credit report, but they should be listed as "Discharged in bankruptcy." They will still stay on your credit for 7 years (they don't get extended to 10 years like the Chapter 7 just because they were discharged in bankruptcy). Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.


Bankruptcy and inheritance?

Three years after bankruptcy you inherit, does that affect your inheritance


Can you fiance a house after bankruptcy?

Yes, 3 years after discharge of the Bankruptcy.


After seven years when debts from a bankruptcy are removed from the credit portion of your credit report will the bankruptcy still reported in the public record portion affect your credit status?

bankrupcires stay on for 10 yrs. But when you gfinalize the bankruptcy the debts are automatically removed anyways.


What are the consequences to one's credit if a vehicle is repossessed?

It adversly effects your credit for 7 years. Except for a Chapter 7 bankruptcy which remains on the report for 10 years, no bad debt can stay on your credit repair beyond 7 years from the date the debt was originated. The law is on your side that it must come off.


Why is the bankruptcy still on your credit after 10 years?

Its permanent its just that after 3 you can apply for an early release and after 7 you are automatically released.


How long does a bankruptcy stay on your credit report in ms?

A bankruptcy usually stays on your credit report for 7 years. If you forgetadebt on the bankruptcy petition, it may may be 7 years from the time the bankruptcy petition was amended, but otherwise it is from the time the bankruptcy became file.


Can you get a bankruptcy removed from your credit file if the full amount owed was not correctly reported in dollars and cents?

A bankruptcy is "on" your credit report the instant you file it and will not be removed for 7-10 years. Its a public record. If you dismiss the bankruptcy the day after filing, it will still show up.


How does your credit score rank if you declared bankruptcy four years ago?

Anytime a bankruptcy shows up on a credit report, the credit score associated with such a credit report will be ranked as fair or poor. Four years is still considered "recent" concerning bankruptcy, so poor is the best that one can hope for. Bankruptcies stay on the credit report for ten (10) years.


If you had a car repossessed 6 and a half years ago made a few payments after that but still receive collection letters will they stop after 7 years in FL?

The SOL starts when you made the last payment.