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Guest

i have a joint cc with my ex husband. i am filing for chapter 7, can he sue me?

Niicss · Posted: Tue Feb 24, 2009 2:07 am Post subject:

Hi Guest,

As far as I know, if you are residing in a community property state, then your filing bankruptcy can affect your spouse's credit. In that case, he may sue you for filing bankruptcy. I think you should consult a bankruptcy attorney before taking any step regarding bankruptcy.

Thanks.

Guest

My son filed chapter 7 two years ago and I just received a call today that the bank wants me as the cosigner of his car to pay a large lump sum for what was not recovered in the sell of the car. There is not an option to make payments is there anything I can do?

savior70 · Posted: Thu Apr 09, 2009 7:21 am Post subject:

Hi Carol,

I don't think there's much you can do about it. Chapter 7 banruptcy doesn't prevent foreclosure. You need to reaffirm if you have any intention of keeping the house. As a co-signer you will be held responsible for the loan if your son defaults.

gmakerley · Posted: Thu Apr 09, 2009 7:31 am Post subject:

well...the advice is pretty close to correct, savior; but you missed the whole scenario. it's okay, though.

carol...because you cosigned for your son, you promised to pay - that includes a deficiency if and when a vehicle is repossessed. perhaps they'll allow you to make arrangements to pay the sum in installments - maybe they'll give you a new separate loan to do that. discuss this situation with the lender to see what they're willing to live with from you. you can always approach a different lender to obtain the funds to pay this debt also.

people be careful when someone asks you to cosign. it puts you on the hook 100%.

Guest

my ex gf filed for bankruptcy without telling me,and we own a condo together,now she has no obligations to the mortgage,can I sue her for this?

Guest

Hi, I am thinking about filing Chapter 13 my mother co-signed for our mortage; will she be proctected from the bank calling in the loan even though she has enough in the bank to cover the loan?

Guest

Hi,
My mother co-signed for a loan for 10,000 for dentures for my husband and i ..we are filing bankruptcy and I wonder what will happen to my mom..remember she is 81 yrs old and lives on a fixed income..995.00 a month..not sure why they even let her co-sign to begin with...will they make her pay this loan off??

savior70 · Posted: Wed Oct 28, 2009 6:52 am Post subject:

To mamahawk,

Since your mother co-signed on the loan, she is responsible for the loan. In case you and your husband fail to pay off the loan, they can come after your mother. But the bankruptcy filing will not affect her credit in any way. Which type of bankruptcy are you filing? Are you going to include this debt in bankruptcy? If it is a chapter 13 bankruptcy, you can pay off this debt through chapter 13 repayment plan. If it is chapter 7 bankruptcy, you can simply keep paying towards the debt outside of bankruptcy.

gmakerley · Posted: Wed Oct 28, 2009 8:04 am Post subject:

quite true...the bankruptcy has no impact on your mom's credit, but that's not necessarily relevant. and yes, indeed, the lender will be asking for her to make payment. after all, she agreed to do so. if there's any way you can prevent this from happening, i'm sure it will make her latter days more pleasurable.

Guest

i just recently filled chapter7 - and i am voluntarilly make payments-
if i stop my voluntarily payments and give them car back- is my co-signer
still responsible?

gmakerley · Posted: Sat Jan 02, 2010 6:13 pm Post subject:

yes, a co-signer is responsible for making payments on any loan until that loan is paid in full. there are no exceptions.

Guest

I have a VA loan on my home that was quit claimed to me in our divorce. Ex was the veteran. I have not refinanced, but will be unable to make payments after child support ends in few months. will have to file chapter 7. I intend to include home in bankruptcy as I want a fresh start. will ex be liable if I haven't refinanced the home yet?

gmakerley · Posted: Sun Jan 10, 2010 9:56 pm Post subject:

he sure will be

Guest

My mom co signed my truck and is fialing chapter 7, if they do take my truck will it hurt my credit?

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How do I protect my co-signers while filing bankruptcy?