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If you file for bankruptcy and you cosigned for someone can the car loan be included in the bankruptcy if the person is not making their payments?
Wiki User
∙ 8y ago
YES, you can include it whether the payments are current or not.
Wiki User
∙ 8y ago
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What happens when someone you cosigned a mortgage for has filed for bankruptcy?
When you co-sign on a loan or mortgage for someone, you are promising to make the loan payments if they can't. When someone files for bankruptcy, they are claiming that they cannot make their payments. It would stand to reason that if someone you co-signed on a mortgage for files for bankruptcy that you would then be liable for making the payments.
Can credit cards be used after someone files for bankruptcy?
Sometimes credit card charges are not included in bankruptcy. If they are then you will no longer be able to use them.
What happens if car dealership files bankruptcy how do you pay for vehicle?
If a car dealership files for bankruptcy, someone will purchase the accounts receivable as part of the bankruptcy settlement. That person or company should contact you and tell you where to make payments.
Will you lose your car if you make the payments but the loan is in someone else's name and they go bankrupt?
What will happen depends on the decision of the bankruptcy judge. If you are making the payments but the loan is in someone else's name, you do not have a legal leg to stand on. Still, the bankruptcy law in the United States, recognizes the need for an automobile. So, that person may keep the car.
You just bought a 15000 diamond ring on credit no payments for 1 year Now you are filing bankruptcy Do you get to keep the ring?
no if you still have it yes if you gave it to someone as a "gift"
What happens when someone you cosigned a mortgage for has filed for bankruptcy?
When you co-sign on a loan or mortgage for someone, you are promising to make the loan payments if they can't. When someone files for bankruptcy, they are claiming that they cannot make their payments. It would stand to reason that if someone you co-signed on a mortgage for files for bankruptcy that you would then be liable for making the payments.
What happens to the co signer if the borrower files bankruptcy?
If you are talking about someone who cosigned for your loan filing bankruptcy, As long as you continue to make your payments on time, nothing will happen. If you are talking about someone you cosigned for taking bankruptcy, you may very well have to pay this loan. Contact the lender.
If you are not married but live with someone are they counted in the means test for bankruptcy?
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.
How will you know if someone that owes you money and is making scheduled payments files bankruptcy?
Go to where the bankruptcy is filed and have the file pulled and there will be an accounting of all the debts and payments being currently made. It is public information.
Can credit cards be used after someone files for bankruptcy?
Sometimes credit card charges are not included in bankruptcy. If they are then you will no longer be able to use them.
What happens if car dealership files bankruptcy how do you pay for vehicle?
If a car dealership files for bankruptcy, someone will purchase the accounts receivable as part of the bankruptcy settlement. That person or company should contact you and tell you where to make payments.
Will you lose your car if you make the payments but the loan is in someone else's name and they go bankrupt?
What will happen depends on the decision of the bankruptcy judge. If you are making the payments but the loan is in someone else's name, you do not have a legal leg to stand on. Still, the bankruptcy law in the United States, recognizes the need for an automobile. So, that person may keep the car.
Can you file bankruptcy even if someone else has cosigned with you?
Yes. You can file BK. The lender will then go after the co-signer for payment. In other words, the co-signer learns why the lender required a co-signer in the first place.
Does bankruptcy terminate a contract?
It depends on the type of contract. Bankruptcy does not allow someone to skip child support or separate maintenance payments, but other contracts, such as revolving debt accounts are terminated. Be more specific.
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.
If your truck was included in your bankruptcy but it was not reaffirmed however you continued paying on it but you don't want it anymore can you just take it to your creditor and leave it?
If you quit making payments your creditor will reprocess it, the same thing will happen if you just take back to them yourself. Anyway you do this it will show on your credit report. The best thing would be to try and sell it or get someone to take over the payments. You can call the creditor and tell them you do not want it. As long as it was incldued in your bankruptcy and not reaffirmed they must take it back. It can only be marked on your credit report as discharged through bankruptcy not taken as a repo. I did this with my car. Yes, you can do that. You will have to pay a dime. It wll be listed as backruptcy, not a repo.
Can you be sued civilly by someone who was included in a bankruptcy?
anyone can sue another person at any time in there life no matter how they stand finacally in their past.
