I believe, it is because it is property of the Academy and is, according to the recent Toni Braxton bankruptcy hearing, non-transferable; it is property of the academy and the recipient and therefore cannot be sold without both of their consent.
Of course. The real question is, can they force you to pay? In most states, or under federal law, if your only income is SSI or SSDI, they cannot force you to pay.
When you cosign for an automobile purchase you are typically liable for an automobile repossession in Michigan. The reason why is because you are responsible for car payments as a cosigner if the primary debtor cannot pay.
A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.
If you have filed bankruptcy because you cannot afford to pay your debts, a lender will not loan you money to purchase a house and it just doesn't make sense. You cannot continue to acquire assets while your assets are frozen and in the possession of the trustee in bankruptcy in a bankruptcy proceeding.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
PEOPLE file for bankruptcy because of economic circumstances. Divorced men would have less motivation to do so than many, as child support is a debt that cannot be changed by bankruptcy.
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
NO, not unless he co-signor files B/K also. But do be sure to tell your B/K attorney that there is a co-signor.
No, child support arrears cannot be discharged in bankruptcy.
An inheritance is an asset. When you file for bankruptcy, you will need to list your assets & liabilities. It will be subject to deep scrutiny, because you cannot have your cake and eat it too.
A Co-signer is always responsible for the item unless the primary borrower refinances and removes the co-signer. Unfortunately if the primary borrower filed bankrupcy it doesn't seem likely they will be able to refinance. Yes. Cosigner means that if for ANY reason the main borrower cannot pay, cosigner will be responsible to pay.