Will co-signers credit be damaged by BK?

nathanpinard

Junior Member

Joined: Sep 2004

Posts: 1
#1

Will co-signers credit be damaged by BK?

09-23-2004, 03:07 AM

Hello,

I was wondering if this could happen.

I bought a car with my girlfriend by having her cosign the loan. This was to build her credit. If I file for bankruptcy:

If the car is taken, will she have it on her record?

or

If the car is allowed to stay, will it still be on her record.

Nathan Pinard
Tags: None
HRx

Super Moderator

Bankruptcy Mentor

Joined: May 2004

Posts: 2419

State: Massachusetts
#2

09-23-2004, 06:19 AM

Originally posted by nathanpinard

Hello,

I was wondering if this could happen.

I bought a car with my girlfriend by having her cosign the loan. This was to build her credit. If I file for bankruptcy:

If the car is taken, will she have it on her record?

or

If the car is allowed to stay, will it still be on her record.

Nathan Pinard

Hi,

Yes, her credit will be affected if you file for bankruptcy. The car will always be on her credit report, unless you refinance it under your own name.

Good Luck!

The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.
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