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Should you cosign an auto loan if the borrower filed chapter 13?

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2005-12-01 09:18:05
2005-12-01 09:18:05

Chapter 13 is a payment plan form of bankruptcy. You make payments to creditors based on your income over a set number of years. It is the more responsible choice over other forms of bankruptcies. You take a chance anytime you cosign. It should be based on the borrowers character.

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You either pay or dont pay or file B/K also. If a co-borrower has debt discharged through bankruptcy, the other signatory is 100% liable for the balance of the loan.

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You guaranteed to pay the loan if the primary borrower does not. That is what a cosigner does. The lender is going to be looking at you for their money.

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A Chapter 7 can be filed with an open Chapter 13.

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If you can find a lender who will accept your signature, sure. Unlikely.

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if you filed chapter 13 and it was discharged in 2005 can you file chapter 7 in 2009

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company wrote a check can i cash this before company filed chapter 11

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Sometimes. Expect the interest rate to be high. The reason some lenders will give the loans is once a person has had a bankruptcy, they can't file again for 7 years.

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If you filed chapter 7 then you have a lawer. Call and ask him. I would think you should be able to.

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If (a) you filed Chapter 7 *AND* (b) the injury occurred *AFTER* you filed, no. Otherwise, you should discuss it with your bankruptcy attorney.

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Chapter 11 is a type of bankruptcy that can be filed by both businesses and people. Testa Corp filed bankruptcy on October 11, 2013.

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can i convert my chapter 13 to a chapter 7 if i filed a chapter 7 in 2005

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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.

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It depends on the chapter you filed under. If you filed under Chapter 7, you have to wait 8 years before filing again. If you filed under Chapter 13, you only have to wait four years.

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A Chapter 7 can be filed again eight (8) years after the discharge. A Chapter 13, can be filed four (4) years after the discharge of a Chapter 7, 11 or 12; and two (2) years after the discharge of a previous Chapter 13.

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Only if you have filed chapter 6.

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Generally you should not have to because a chapter 13 protects your assets through the payment plan you filed with the court.

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If the Chapter 13 was filed before the car was sold at auction, you should get it back. Otherwise, it's too late.

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They have filed Chapter 11

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You can have your Chapter 7 claim dismissed as long as the dismissal will not harm your creditors. This is filed with the court in much the same way as when you initially filed for chapter 7 bankruptcy

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You can file a chapter 13 bk, but NOT another chapter 7.

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Yes. I co-signed for an auto loan and the other borrower filed bankruptcy without notifying me. I was in the process of buying a home and before I went to settlement they pulled my credit again and her bankruptcy came up - preventing me from getting the house. So yes it will affect your credit because it will show up on your credit report that that person has filed for bankruptcy.

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Chapter 7 bankruptcy requires specific forms to be completed and filed. You can find a complete list of requirements at www.uscourts.gov . Good luck!

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If you filed on May 20, 1994, then the statute of limitations for that will be up on May 20, 2004, and should then be deleted from your credit history. The rule is 10 years from the date filed. Hope this has been a help!


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