Bankruptcy Forum

co signer on a loan quesiton

jupzchris
12-20-2004, 09:52 PM
Alright my girlfriends step dad co signed a loan for her to get a car about a year ago ... she has like 5 g's of it paid off ... she hasa bout 8.5k left to pay on it
but her step dad is wanting to file bankruptcy like a jackass and he is saying all this shit about how when he does they are gonna take her car and all this shit

anyone know anything about this?

he co signed and put his travel trailor and one of there vechiles as colitoral ... we have almost enough paid off to get the title back on one of there vechile's


so my quesiton is - when they file bankruptcy what will happen to the loan he co signed on ???

No payments have ever been missed or been a day late

HRx
12-21-2004, 06:14 AM
Your girlfriend may want to see if she can refinance the car soley under her own name. Because if when her step-father files for bankruptcy, her credit will be negatively impacted as well. Typically a car can be kept under a bankruptcy, by simply have the car loan reaffirmed.

However, I would suggest that she see if she can refi the car under her own name.

Good Luck!