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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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โˆ™ 2005-12-01 09:18:05
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Q: Should you cosign an auto loan if the borrower filed chapter 13?
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Related questions

What do you do if your vehicle was repossessed if you were the co-borrower and the other borrower has filed Chapter 7?

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.


Can a lender make you pay for a loan for which you co-signed if the borrower filed a Chapter 7 bankruptcy and is no longer making payments?

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.


Can a chapter 7 be filed with an open chapter 13?

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


Can you cosign a car loan if you filed for bankruptcy?

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


If someone files chapter 13 in 2004 can chapter 7 now be filed?

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


Can someone cosign a car loan if they filed chapter 7 bankruptcy?

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.


What companies have filed chapter 11?

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


After chapter 7 can i sell my life insurance policy?

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


Will bankruptcy trustee take pain and suffering settlement?

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


Has testa corp filed chapter 11?

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


Can you convert a chapter 13 to a chapter 7?

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


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.


Can you declare bankruptcy now that your first bankruptcy is discharged?

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.


If you filed bankruptcy last month when are you eligible to file bankruptcy again?

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.


If Husband and you filed chapter 13 in June but he lost his job in December and now you need to convert to a chapter 7 the only problem is he filed chapter 7 in 2004 can you still file a chapter 7?

You would be able to file for chapter 7 but not your husband.


If you are a co-borrower on a mortgage and the other co-borrower has just filed bankruptcy will this affect your credit rating?

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.


after a chapter 7 is discharged can you file a new chapter 7, if you had filed a 7 but is not discharge, could you file a 13 to save your home. I am not sure when i filed chapter 7 and i am having trobule with employment due to econemy, been through 2 dif?

Yes, Chapter 13s are filed to try to help individuals from losing their houses.


After filing chapter 13 do you have to move out of your house any period of time?

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


What if your car was reposed after filing a chapter 13 dont you get it back?

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


When can you file a chapter 7 bankruptcy again if you filed a chapter 7 in 2003?

2011


Can you quit your job before filing chapter 7?

Only if you have filed chapter 6.


How do you file a voluntary dismissal of a chapter 7 bankruptcy?

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


Can you file again if you filed in may 2005 on chapter 7?

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


what should i know about chapter 7 bankruptcy forms?

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!


Is my Ucc-1 perfected if the borrower's address has changed since the original filing?

Generally if it was good when filed, then it is good now; however, if you know about an address change you should file an amendment