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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?
Wiki User
∙ 16y ago
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.
Wiki User
∙ 16y ago
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Is the cosigner the only one responsible on the loan?
The primary borrower is responsible for making the payments and adhering to the terms of the lending contract. The cosigner is legally obligated only if the primary borrower defaults on the lending agreement or files bankruptcy (chapter 7).
Can chapter 13 bankruptcy payments go up?
Yes, they may.
Chapter 13 bankruptcy be dissimisal?
You can get a Chapter 13 bankruptcy dismissal by asking your lawyer to ask the trustee for a dismissal. If you are having trouble making the payments, you can ask for you bankruptcy to be modified.
Can the primary borrower continue paying car loan if co-signer files chapter 7 bankruptcy?
Has to
Your husband is filing chapter 7 bankruptcy and you are not but you are a co-borrower on his loans will you still be responsible?
In most states, YES
You are financing a vehicle but you can no longer afford payments what can you do?
Talk to the lender, or you can file Chapter 13 Bankruptcy to lower the payments where you can afford them.
Can you get your car back if you file a chapter 7 bankruptcy before it is auctioned off?
If the lender is willing to reaffirm the loan with the borrower then the vehicle can be returned. A vehicle is a secured debt and is not subject to chapter 7 bankruptcy laws.
If a Chapter 13 takes your name off of the loan that you cosigned does it also come off of the title?
A co-signer is not usually on the title of a vehicle unless they are actually a co-borrower/owner. State laws govern how ownership of a vehicle is determined. A Chapter 13 is a consolidation bankruptcy, therefore the co-signer would not necessarily be relieved of the financial responsibility of the loan.
Can you file bankruptcy in Ohio then move to Germany before the bankruptcy is complete?
Yes, you can move anywhere you want to, but if you are paying payments (Chapter 13) you are still legally obligated to make the payments.
Can you keep your home if you file a chapter 13 bankruptcy?
Yes, as long as you keep making the payments.
How much would your payments be on chapter 13 bankruptcy on 100 000?
A chapter 13 bankruptcy on 100,000 dollars would cost around 500 dollars a month. This estimated on how much stuff a person has.
Can your vehicle be repossessed after you file Chapter 7 bankruptcy?
No. But they can ask to be excluded from the bankruptcy. Usually a deal can be made with the lender to keep a vehicle. If it is covered by the exemption and the borrower lives up to the contract agreement.
