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if the consigner files bankruptcy can the borrower take the car
If a car dealership files for bankruptcy, someone will purchase the accounts receivable as part of the bankruptcy settlement. That person or company should contact you and tell you where to make payments.
well if your husband is in bankruptcy they are not allowed to repossess the car as long as he is the one in possession of the vehicle, if they do repossess the vehicle you will have a pretty good lawsuit to hand them, if the car is repossessed or actually when , it will show up on both of your credit. so I have a website to help you www.stoptheREPOMAN.com we have repossession consultants that can help with your situation I STRONGLY RECCOMED YOU TRY IT.
Yes
Yes, you can use a leased car as collateral for a loan, but it depends on the lender's policies and the terms of the lease agreement.
if the consigner files bankruptcy can the borrower take the car
If a car dealership files for bankruptcy, someone will purchase the accounts receivable as part of the bankruptcy settlement. That person or company should contact you and tell you where to make payments.
That depends on what you're asking. Who filed bankruptcy? The owner of the car or the owner (holder) of the car loan? Did you co-sign on the loan? If you co-signed on the loan and the other signer files for bankruptcy, yes you are liable for the loan. If the owner (holder) of the car loan files for bankruptcy, you are still liable to the owner's creditors (and you need to find out who they are so you can get the lien released).
There are some creditors that offer car loans to those who' ve filed bankruptcy.
Has to
Yes. If you default on your car loan you will remain liable for the debt.
well if your husband is in bankruptcy they are not allowed to repossess the car as long as he is the one in possession of the vehicle, if they do repossess the vehicle you will have a pretty good lawsuit to hand them, if the car is repossessed or actually when , it will show up on both of your credit. so I have a website to help you www.stoptheREPOMAN.com we have repossession consultants that can help with your situation I STRONGLY RECCOMED YOU TRY IT.
Because of the "automatic stay", which goes into affect as soon as a Bankruptcy is filed, your car cannot be re-possessed while the Bankruptcy is in progress (unless the creditor files a motion with the court asking for relief from the automatic stay). However, as soon as the Bankruptcy is discharged or closed - which occurs approximately 6 months after it is filed - the car can be re-possessed.
I'm not an attorney, but I seriously doubt it. What sense would that make?
yes
No, because it isn't your car.
It becomes your financial resposibility to satisfy the note.