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The company wants their money so if the primary doesnt pay then the cosigner must. Their is no way of getting around this. Bankruptcy should be outlawed. If you cant afford things dont take on the debt.

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โˆ™ 2007-03-21 16:51:38
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Q: Is a cosigner still responsible if the first party filed bankruptcy but reaffirmed the car loan?
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Can a cosigner acquire foreclosed business property after the borrower files bankruptcy?

You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.


If the primary owner of a car files for bankruptcy and it is discharged and the car is back with the company will the co-signer be liable for the payment?

The cosigner will be the person who will be held responsible for paying any deficiency depending upon when the BK was filed. If the BK was filed under the new bankruptcy reform laws the cosigner can be held responsible for the entire amount of the loan.


You are a cosigner and the debtor has filed chapter 13 what happens to your obligation?

You are protected during the term of his bankruptcy. If he does not resolve the debt under it, you will remain responsible.


What happens to a mortgage after a bankruptcy?

What happens to a mortgage after bankruptcy depends on whether or not the debt is reaffirmed. If the mortgage is reaffirmed the homeowner continues to pay it as if the bankruptcy had not been filed, since the debt has not been discharged. If the debt is not reaffirmed, what happens to the mortgage depends on the policies of the individual lender.


What happens when a cosigner declares bankruptcy-not the primary owner?

Nothing unless they filed on your loan.


If you have filed bankruptcy can a cosigner help you get a credit card?

yes and so will $400 as 'security" deposit.


If cosigner filed bankruptcy can bank force you to pay off vehicle or return it even if payment history is good?

No


Will a cosigner on a mortgage be notified if a borrower files for bankruptcy?

They should be, however if the petitioner does not list, they may not be notified. However, there are ways to verify if a petitioner has filed for bankruptcy.


I filed for bankruptcy in 2001now I need a cosigner for my new apartment will the cosigner know about the bankruptcycan the bankruptcy creditors link the cosigner to me damage their credit?

I am in the same boat due to illness and I am looking for a co-signer so I can rent an apt. The bankruptcy has been discharged per the court, and it is hard to rent an apartment sometimes with a co-singer. Everyone has different rules. I believe if you filed a bankruptcy, then had a co-signer, it would have no effect on them, only what you do after they co-sign


I cosigned a loan for my granddaughter she has filed bankruptcy will her creditors come after you too?

If you are a cosigner on a loan, you are responsible for the debt of the loan if the primary signed defaults on the loan. So, yes you can be called to pay on the loan by the creditors.


If you filed bankruptcy and you have a loan you cannot pay because you lost your hearing and job can they go after the cosigner?

In most cases. yes.


What if the primary borrower files bankruptcy is the cosigner still responsible for making payments on the vehicle Can the co-signer take their name off the vehicle?

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.

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