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Cosigner on auto lease.

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    Cosigner on auto lease.

    I co-signed on a lease for daughter. I was and am on SSDI income and truly expected to be denied. Lon story short she defaulted and now credit co. who bought debt is coming after us. This is just 1 of 3 others. My income is judgement proof SSDI no assets of above exempt values. My question is if I file chapter 7 to stop the 500 plus robo calls since 3/2020. The debts feel heavy as my credit prior to my daughter was great. What happens to her if I file bankruptcy?

    #2
    Welcome to the forum.

    If you file Chapter 7 bk it changes nothing for your daughter. Creditor is still free to seek payment from her. If you file Chapter 13 and provide full payment for this debt the c0-debtor stay will protect her.

    As you point out, you are judgement proof. Maybe it is your daughter who should look into bk.

    Des.

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      #3
      If the daughter files bankruptcy, won’t they then come after the mom?

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        #4
        Originally posted by Tik22687 View Post
        If the daughter files bankruptcy, won’t they then come after the mom?
        They might then go after mom, the co-signer, but mom is collection-proof. So it would be fruitless.

        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
        Status: (Auto) Discharged and Closed! 5/10
        Visit My BKForum Blog: [URL="https://www.bkforum.com/blog.php?u=15365"]justbroke's Blog[/URL]

        I am not an attorney. Any advice provided is not legal advice.

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          #5
          Ahhh yea. Makes sense.

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