Hi all. I am a co-owner on a vehicle and plan to file Ch 13 in the next couple of months. The payments are current. How does reaffirming the car work when there is there is a co-owner? He is not filing and I am keeping the car since my car is being repo'd. We don't live together (he's my son and is away in the Navy). The car was purchased in Feb 07, there is no equity, and the payments are $410 a month. Do you think there will be a problem with me reaffirming? or will they just go after him for the payments?
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There is no reaffirmation process in a chapter 13. Reaffirmation only applies to chapter 7 cases.
You either make the payments on the car or the car gets repo'd. If their is a co-owner (who is also a co-obligee on the loan), they will go after the co-owner for the payments. If the co-owner does not pay, the car gets repo'd and the co-owner can be liable for the deficiency balance. -
Thank you. That's what I thought. But I was going over some of my notes from some of the atty's I met with and reaffirmng was mentioned. But I do have to include this when I present all my debts. Maybe I just got it mixed up during our chats. Thanks again.Comment
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