I am a co-signer on a car loan. I filed Ch 13 due to other financial reasons and listed the car. Now the other person filed Ch 7 and is giving up the car. I can take over the payment but I want to make sure that the title gets released once the loan is payed off, not when my bankruptcy is discharged in 5 yrs. And the title says "or". Help!
We are , 000 in debt. We tried debt management, and the payments were around 0 per month. We cannot afford that. We can’t file bankruptcy, because two loans that we have, my mother is the co-signer, and it would stick her with the payments, and she can’t afford to make those?
My best friend is going through a hard time right now emotionally, and physically. She has acquired alot of medical bills greater than 7,000 dollars worth. They are now taking over 0 every other week out of her paycheck, which she can not afford. I have mentioned to her to file bankruptcy, she is also wanting to buy a house with a co-signer, what will this do, and how again, do I find out for her upon her request to help her do i find out when was her last bankruptcy?
If you have debt including car loan, credit cards, and other misc debts more than the amount you make in a year or more is filing Bankruptcy the best option? I am young with a child and have accumulated so much debt making bad decisions and now I have to face the situation sooner or later. There really isnt any other option I can think of besides consolidationg or a debt management plan and if I were to consider a program like that I would be able to afford that. I am young and I figure if I was to file BK and get a fresh new start things will get better for me. but then I will have to face the penalties of filing BK and after that your credit score is ruined and alot of companies try to charge you an arm & leg with rates and everything. Eventually I want to buy a home dont want to have to rely on people for a co-signer everytime I will need credit. I sure can say this is a learning experience. Please respond if you fell you have good advice in this situation.
I am a co-signer on a leased vehicle. The primary signer recently filed bankruptcy and I told him not to reaffirm the lease since I got a terrible deal but had no choice at the time. His discharge is coming up this month. I on the other am going to file before his discharge happens. Will I be able to keep the car until my discharge happens or will they take it when his discharge happens? Will they take the car if I don’t make payments on it during the bankruptcy process?
long story short – my ex-boyfriend open a credit card (,000) and made a second card for me. I’m not a co-signer on this card – only a 2nd card holder for this credit card. When I got this card I did not give out any of my information. When we were together, I was paying for the credit card but now that we’re not, I stopped paying for it. It has now went to collection agency and they want my ex to pay for it but he doesn’t work and has no source of income. He has no property and he does have a car but the auto title is under his parents name. He is living with a friend right now. He told the collection agency that he can’t pay for it b/c he’s not working. What will happen if he doesn’t pay for it? Should he filed for bankruptcy? Can the collection agency come after me and force me to pay for the balance?
Thanks
I am considering filing for bankruptcy due to extensive medical bills. I have a car that was totalled, but I owe ,000. I had a co-signer sign for the car. Does anyone know what happends to that person after i file?
Do I get to keep the car? The car has no value and barely drives.
Also does anyone know of inexpensive alternatives to using a bankruptcy lawyer. In california we had a legal document service called "We the People" I am residing in TX.
Can i do the paperwork myself?
I am not eligible to receive a student loan by myself because of my young credit of only about a year even tho I have an excellent score.
I am not able to have my parents cosign for me because they are coming out of bankruptcy a little over a year out and have re established their score. but the loan companies and banks say it needs to be 2 years. I recently transfered to a very expensive school. I did receive a scholarship, but it doesn’t quite cover the cost, which including housing is around 40k per year. I have excellent grades deans and presidents list every quarter of my 3 year length college career.
But what I really do not understand is how on a deferred student loan you are required to have a co-signer when they can be removed as your co signer after 18- 24 months.
This does not make much sense to me and if anyone has any kind of alternative ideas comments or solutions I would appreciate everything I can get my hands on.
Thank you
I have one particular loan with a co-signer, and I do NOT want this person knowing I filed! Is there something I can do to prevent them from being notified that I am filing?
My husband and I purchased a truck in Feb. 2006. We were both young and had very little credit so we required a co-signer. Some how when we were signing off on all the paper work, our signatures got mixed up. So according to the bank, our cosigner is the owner and my husband is the cosigner. In Feb we will have had the truck for 4 years now, we have never missed a payment nor have we ever been a day late. My husband is about to be deployed to Iraq in Dec so we will be able to have the truck paid off by next year (a year early). So here is where my question comes in. We just found out this morning that the guy who cosigned for us is in the middle of filing for bankruptcy. Our truck has lots of equity so its a point of interest for the bank. We have tried to refinance but we’re turned down because of my husbands dept to income ratio. So I need advice on what we can do. We live in the state of Georgia and our co-owner lives in Texas. If anyone knows of any loop holes or can offer legal advice it would be greatly appreciated!
I have 3 small children and I just got divorced 2 months ago. I will be filing for bankruptcy next month. In our divorce papers it said I was responsible for two debts, a Target card bill, (which I was never on the account my ex said I had to have more than one bill on my side for our divorce to go through) and a joint car bill of which I was the co-signer on the vehicle. My exhusband got letters today stating that Ford is taking him to court, and so he called up Ford and because I’m on government assistance Ford said since he’s the primary they’re going after him. So he says he’s going to countersue me for the money… is that a possibility?
He is filling chapter 7 bankruptcy and he is my co signer on my vehicle will I be able to keep my vehicle since he is filling for this or not.
We are the co-signer on an auto loan for a relative. We are having to file a Chapter 7 bankruptcy. I need to know how exactly that will affect the main borrower. We are planning on "reaffirming" the loan, so that the person will not lose the car.
Will this mean that we will be removed from the loan and the main borrower will be responsible for all payments and keep the vehicle? Or will it mean that we will still be on the loan after the bankruptcy? Or what are the other possibilities?
I filled bankruptcy last week with plans to reaffirm the auto loan and keep the car. Mostly because my dad is the co-signer.
Today I tried to make a payment only to find the loan has been sold to some other company, and now I fear they will change the interest rates and add fees. Is this what will happen? What would happen to the co-signer if I decide to return the car and discharge the loan?