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If your grandmas name is on your title to your truck but she doesnt make the payments and she files bankrupt will you lose your truck?
Wiki User
∙ 16y ago
Probably.
It isn't your truck...it's hers...and she can't afford it.
Wiki User
∙ 16y ago
Add your answer:
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What happens to a promissory note when the note holder files for bankruptcy?
The note becomes a part of the bankrupt individuals assets.
What happens to a co-signer if the signer of the loan files bankrupt?
The co-signor becomes responsible for the balance due on the loan.
If you have credit debt and that institution files bankruptcy do you still have to repay?
Yes. The bankrupt institution will pass your debt to its creditors that it owed money to.
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.
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What are some advantages of using offsite file storage?
Some advantages of using offsite file storage is that one's files will be safer from security threats, no dependency on a 3rd party (if the company goes bankrupt), and more control over files.
When primary borrower files bankrupt how is cosigner affected?
The lender can go after the co-signer. If you are the co-signer you should consult with an attorney who can review the situation and explain your position.
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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.
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