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If you co-signed on a vehicle in Maryland and the primary filed bankruptcy can the creditors come after you if the car is turned back in?
What else can I help you with?
Who ask the questions at the 341 meeting?
At a 341 meeting, also known as the creditors' meeting, the primary questions are typically asked by the bankruptcy trustee assigned to the case. Creditors may also have the opportunity to ask questions regarding the debtor's financial situation and assets. The purpose of the meeting is to allow the trustee and creditors to gather information about the debtor's financial affairs and ensure transparency in the bankruptcy process.
What is a bankruptcy case?
A bankruptcy case is a legal proceeding in which an individual or business seeks relief from overwhelming debt through the federal bankruptcy court system. It involves the assessment of the debtor's financial situation and the distribution of assets to creditors according to established legal guidelines. The primary types of bankruptcy include Chapter 7, which entails liquidation of assets, and Chapter 13, which allows for a repayment plan to settle debts over time. Ultimately, a bankruptcy case aims to provide a fresh start for the debtor while ensuring fair treatment for creditors.
What are the rights of a cosigner when the primary filed bankruptcy then didnt pay the bankruptcy so the bankruptcy was dismissed?
As a cosigner, you are not at all protected if the primary signer files for bankruptcy. In many cases, filing for bankruptcy relieves the primary signer on the loan from his obligations towards the loan, at which point the lender will turn to the cosigner for payment. You'll either have to pay the loan or file for your own bankruptcy (if necessary).Unfortunately, you're stuck with the loan regardless of whether or not the primary signer successfully completes his bankruptcy filling. You may want to contact a bankruptcy lawyer for some additional advice or assistance.
What happens to the primary if the co-owner files for bankruptcy?
The primary would be held liable for the debt.
What happens if when cosigned mortgage loan goes into foreclosure?
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.
I cosigned a loan for my granddaughter she has filed bankruptcy will her creditors come after you too?
If you are a cosigner on a loan, you are responsible for the debt of the loan if the primary signed defaults on the loan. So, yes you can be called to pay on the loan by the creditors.
What happens to the co signer if the borrower files bankruptcy?
If you are talking about someone who cosigned for your loan filing bankruptcy, As long as you continue to make your payments on time, nothing will happen. If you are talking about someone you cosigned for taking bankruptcy, you may very well have to pay this loan. Contact the lender.
Does Maryland have a Homestead Law?
No, Maryland does not have a homestead law. This means that there is no specific protection for homeowners from certain types of creditors looking to enforce debts through a forced sale of their primary residence.
In Wisconsin are persons cosigned on a loan as grantors liable to pay if the primary signer dies?
Yes.
If you cosigned on a car that was repossessed in bankruptcy by your ex do you still owe on the auto after six years?
If any money is owed and the primary on the account can't pay, the you as the co-signer are responsible for the debt. It doesn't matter whether you're resonsible for it or not; as a co-signer, you agreed to take care of it.
Who are the primary users of financial accounting information?
creditors
What are the rights of a cosigner when the primary filed bankruptcy then didnt pay the bankruptcy so the bankruptcy was dismissed?
As a cosigner, you are not at all protected if the primary signer files for bankruptcy. In many cases, filing for bankruptcy relieves the primary signer on the loan from his obligations towards the loan, at which point the lender will turn to the cosigner for payment. You'll either have to pay the loan or file for your own bankruptcy (if necessary).Unfortunately, you're stuck with the loan regardless of whether or not the primary signer successfully completes his bankruptcy filling. You may want to contact a bankruptcy lawyer for some additional advice or assistance.
If a cosigner files for bankruptcy does it put the primary signer under bankruptcy too?
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
What type of presidential primary does Maryland have?
It has a Closed Primary
If the primary borrower on a cosigned car lease dies. what happens to the car?
The person who's name is on the Title is the owner of the car.
What is the primary religion of Maryland?
catholic
In Florida How many real estate properties can a married couple hold as tenancy by the entirety at the same time in order to have all real estate properties protected from creditors?
You need to discuss your situation with an attorney. Tenancy by the entirety protection for married couples is supposed to be for the couple's primary residence only. If you hold several properties as T/E and find yourselves at the mercy of creditors or a bankruptcy court then you may fail to protect your primary residence leaving it exposed to creditors who may argue that it it not the one covered by statutory T/E protection.
