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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.

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โˆ™ 2004-10-08 14:10:50
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Q: Is it true that if your car is repossessed you file bankruptcy and tell the lawyer there is a cosigner the lender cannot collect from either person?
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Related questions

Can a car be repossessed if involved in bankruptcy?

Depending on your state... a car that is included in a Chapter 13 Bankruptcy cannot be repossed. The Bankruptcy laws protect you from repossession. Just as long as you are in Chapter 13 and are making payments to the Trustee, your car cannot be repossessed.


Can my house be repossessed if my husband is madebankrupt but is not on the deeds?

Your husband's name is not on the deed, but is he on the loan? If yes, then it cannot be foreclosed and repossessed if the property is listed on his bankruptcy filing, and, as long as his bankruptcy payments are current. If he defaults on bankruptcy payments, then you can lose the property. If he is not on the loan, then your house can be foreclosed and repossessed.


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.


How credit union collect bankruptcy loan that discharged?

If a loan from a credit union has been discharged in bankruptcy court, that credit union cannot collect and must write the loan off.


What happens if the motion for relief from a stay is denied?

Bankruptcy protection remains in place and the creditor who was denied the stay will remain a part of the bankruptcy and cannot attempt to collect the debt owed.


Can a debt collector still collect your debt if you file chapter 13?

No they cannot, as long as you included them in your bankruptcy. They would be in violation of Federal Law, and liable to suit and possible penalty from the bankruptcy court. The bankruptcy attorney, or the trustee should be notified about any collections on a bankruptcy account.


If in a chapter 13 can judgment be filed?

Not by one of the creditors. You have an Automatic Stay, which means that they cannot attempt to collect a debt outside the bankruptcy plan.


Can a cosigner on disability be sued if the principal takes bankruptcy?

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.


How do you get your name off of an auto loan that you cosigned on if other party cannot get another loan and has nobody willing to take over as cosigner?

A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.


Can a cosigner coowner repossess a vehicle if the primary has not defaulted payment on the loan?

A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.


What does automatic stay under title 11 mean concerning a repossessed car?

I'm assuming you are asking regarding a bankruptcy. An automatic stay is a utility of the court, that legally prevents contact with you from creditors after they have been notified of the bankruptcy proceedings. Once you file, the stay protects you and your proerty for as long as the stay exists. Once the BK is dismissed or discharged, the stay is lifted. While the stay is in effect, the vehicle cannot be involuntarily repossessed.


If you are filing personal bankruptcy and have a truck you cannot afford should you have it repossessed and include the debt in the bankruptcy?

B/K depends on your situation and there is no standard advice. But that is likely the best thing to do. As you stated, you cant afford it.Ask your B/K attorney. S/he can advise you better. I agree with that answer. Talk to your attorney. Filing for bankruptcy is a legal process and can be complicated so it's important to work out your bankruptcy carefully. Bankruptcy is the best way to get relief from debt.Get advice on bankruptcy and how best to deal with your debts , This independent website has a lot of useful information: http://freshstartsolutions.com.au/bankruptcy/#bankruptcyoption

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