As long as 1 party is making payments on the auto loan, it is not required to be included in the bankruptcy.
I'm not sure what you mean. You may not be in default and lose the asset (basically because a car is generally exempt in BK), but each and every asset, each and every liability must be listed/reported in BK. There are NO exceptions. You do not pick and chose what is "included".
They can still come after the cosigner, and it will still reflect poorly on your cosigner's credit history. You have been absolved of the debt, not your cosigner.
if the consigner files bankruptcy can the borrower take the car
The only way to remove yourself from the obligations of co-signing a loan is to pay off the loan and refinance it in the primary borrowers name. Until that happens you are fully responsible for paying the loan if the primary borrower fails to pay.The only way to remove yourself from the obligations of co-signing a loan is to pay off the loan and refinance it in the primary borrowers name. Until that happens you are fully responsible for paying the loan if the primary borrower fails to pay.The only way to remove yourself from the obligations of co-signing a loan is to pay off the loan and refinance it in the primary borrowers name. Until that happens you are fully responsible for paying the loan if the primary borrower fails to pay.The only way to remove yourself from the obligations of co-signing a loan is to pay off the loan and refinance it in the primary borrowers name. Until that happens you are fully responsible for paying the loan if the primary borrower fails to pay.
The co-signor becomes responsible for the balance due on the loan.
The loan becomes at worst like a single-signer loan. You are free to refinance or pay it off. Which you were, anyway. The only entity affected by the bankruptcy of a cosigner on a loan is the lender.
Has to
No, the primary signer is still liable. But if a loan is not dischargeable, such as a student loan (actually is is extremely hard to discharge), both the primary and co-signer will STILL be liable after the bankruptcy
Their going to come after you to pay the debt. YOU CO-SIGNED! That means in the event that the primary borrower can not or does not pay the loan you are responsible to pay that loan. There is no way around that.
Nothing unless they filed on your loan.
If the first loan was refinanced it must have been paid off by the second loan. You are not responsible for the second loan if you didn't sign it.
The foreclosure is reported under the names of the primary borrower and the co-signer. The co-signer is equally responsible for paying the loan.
You are still respnsible for paying should the borrower die.