cosigners and bankruptcy

[kmeow]

I have a concern. I have been robbing peter to pay paul for quite sometime, and realize that the best thing for me is to declare bankruptcy. In the summer though my old honda died, and while shopping for a car, i got a lease, but my mom is the main signer, she has to have the bills mailed to her, and i am the cosigner. It is garaged at my house and i mail in the checks each month. Now there is some kind of default clause if you file bankruptcy. People have told me that I don't have to reaffirm, because i don't get the bills. That just send in the payments and my moms credit won't be affected. Other people have said that all they can do is say account associated with a bankruptcy on the credit report for my mom. Will that comment hurt her score? I know VW will not contact her as long as they get their money. I just first off don't want to impact my mothers score in any way, and I also don't want her to find out and worry. Should I be worried about her credit?

[magyar123]

Yes you should.

[kmeow]

the lawyer said if i make the payments her credit will not be affected? is that true? i'm just trying to get information, because i won't declare if it affects her credit.
the simple answer yes i should, was not necessary. So if you have some knowledge on how it would be affected that is what i am asking. The car place says its fine that i do that, and the attorney does, but i don't trust people. I want to know what really happens, so let me the facts and what goes on a cosigners credit if i pay but declare bankruptcy.

[AngelinaCatHub]

It may be possible that your Mom secure the note on her own name if possible, and get yourself off the lease. Then pay mom. I do believe both signers may be affected. I wish I could help more but this is above me. It really is somthing your lawyer should address. 'Hub

[HHM]

Generally, a cosigner is not effected on their credit report when the other party files BK, and if they are, it is usually a disputable error.

[kmeow]

that is what the lawyer said....that if something happened she could get it taken off.....
At this point i am just very skeptical.....
thanks so much