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

Posted on: 14th Nov, 2005 01:36 pm
I want to protect my co-signers while I file bankruptcy. Can I do that?
james, you need to speak with your mom's attorney, i believe. is this your car or hers? you noted you were going to "make my payment" but you also said you're the cosigner. if it's your car, then you certainly won't have to give it up as long as you maintain timely payments on the loan.

did they accept your payment? and no, you should not incur any fees and you ought not to be a victim of the bankruptcy, as long as you meet the terms of the obligation you have with your lender.
Posted on: 17th Apr, 2010 10:08 am
hi. my husband and i recently filed for chapter 13 bankruptcy. he has an old credit card that his dad cosigned on when he was a teenager. it's open with a 300 balance and we have never been late on paying. we paid off the balance prior to filing on his dad's behalf but unfortunately the bankruptcy posted prior to the payment going through. we did not include this account in the bankruptcy and we are now being told that the account has automatically been closed and sent to the bankruptcy credit card department. will the payment still go through? we do not want his dad's credit affected in any way or any type of notation on his credit about our bankruptcy. he has security clearance and his job would be on the line not to mention our relationship. any advice on what the outcome of this will be?
Posted on: 04th Sep, 2010 06:35 pm
Hi lexi,

If you haven't included the account in your bankruptcy filing, then the account cannot be closed. You should contact the credit card company to clarify the matter so that you can use the card and make the payments on time.
Posted on: 06th Sep, 2010 01:54 am
I agree with Adonis' suggestion to contact the creditor. Since you've paid the account in full, it might persuade them to remove any negative impact that the bankruptcy would have had on the account. Usually, when a creditor is paid in full, they're more likely to assist in such a matter.
Posted on: 09th Sep, 2010 10:22 am
My husband has a mortgage loan with his ex-wife;/ she signed quit-claim deed a while ago, now she is filing ch.7 is our home in danger?
Posted on: 14th Sep, 2010 06:56 am
hi stacy,

your husband's ex-wife does not own the asset any longer. however, she is still responsible for the mortgage if your husband has not refinanced it in his name. your husband can ask her not to include the mortgage in her bankruptcy filing and immediately refinance it. i don't think her bankruptcy filing will affect the property in any way.

Posted on: 15th Sep, 2010 12:11 am
if the mortgage is still in both names, it ought not to be that way. he should have refinanced as soon as the quit claim deed was filed to eliminate any issues concerning his former wife. i hope that he did so.
Posted on: 17th Sep, 2010 11:23 am
He didn't refinance...but has been making all the payments
Posted on: 21st Sep, 2010 07:59 am
my parents had cosigned for me to buy a new car, with his name ahead of me on the account. But both my parents had recently filed for Chapter 13, they had mad an agreement and refinanced my car through their lawyer. Does that effect my credit? If i want to get the car completely under my name, or mine and my husband's name, would we be able to do that?
Posted on: 05th Oct, 2010 09:12 pm
Hi ba,

Your parents had refinanced the car loan. This will not affect you in any way. However, you won't be able to get the car and the loan transferred in your name. You will have to wait until your parents get a discharge from bankruptcy filing.

Posted on: 05th Oct, 2010 10:10 pm
my sister and her husband cosigned for my house. i'm thinking of filing bankruptcy but i want to continue paying off my home and car loan. can i still file for bankruptcy and if so will it affect my sister in any way?
Posted on: 10th Oct, 2010 02:23 pm
Hi Vxg,

As your sister is not filing bankruptcy jointly with you, she will not be affected in any way.

Posted on: 11th Oct, 2010 02:58 am
my name is on a deed/mortgage to a home i dont have anything to do with the house payments a nd such can i file for bankruptcy without him losing his house or property this is a credit card debt
Posted on: 18th Oct, 2010 04:51 pm
Hi Dannygordon,

Your query has been replied to in the given page:

Take a look at it. Hope it helps you.

Posted on: 19th Oct, 2010 02:53 am
i will be filing bankrupt. my name was added to my parents quit claim deed. can the creditors put a lien on my parents property if my name is on their quick claim deed?
Posted on: 26th Oct, 2010 03:42 pm
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