Will friend lose car that I co-signed for if I go bankrupt?
Just don't let the loan company find out,they ran your credit once,their not going to do it again unless they have a reason.like if he/she misses a payment they come to u and find out your bankrupt and he/she not paying the bills.they'll repo the car.just dont miss a payment and youll be fine.
Can a lien be put on my property if im a senior citizen without going to court 1st for cosigned car?
Unfortunately if you cosigned a loan that means you were willing to pay the loan if the other signer defaults and if that happen they will go by any means to collect that money that you "cosigned/said" you would cover if the other person defaults. I would go after that person that you cosigned for if it has gone this far.
The biggest threat to you losing both cars is if you used your car as collateral, and the person for whom you cosigned defaults on the loan, and you can't make the payments on the other person's car yourself. But, even if you didn't use your car as collateral, then the bank/finance company could still file a judgment against you for the remaining balance that was owed on the car you cosigned for.