Results 1 to 2 of 2
  1. #1
    Join Date
    Feb 2012
    Posts
    1

    Default Cosigned Vehicle Loan

    My question involves bankruptcy in the state of: California

    Hello. My mother is planning to file bankruptcy. She and I have a vehicle loan that I cosigned for. She is primary, but it has been primarily my vehicle. I have been making the all the payments to the finance company, and paying all the cost of the upkeep and maintenance of the vehicle. Basically my mother only has her name on the contract, she doesn't use the vehicle nor has she put a penny into it.

    What happens to this vehicle when she files for chapter 7?

    Will the financing company want it back?

    If they allow me to take over (cosigner) the payments, will other banks, my mothers owes money to, want to sell it at auction after the vehicle is paid off?

    Thank you.

  2. #2
    Join Date
    Sep 2005
    Location
    California
    Posts
    64,915

    Default Re: Cosigned Vehicle Loan

    Her intention in relation to the car loan is what? Discharge? Ratification?

    1. Sponsored Links
       

Similar Threads

  1. Cosigners: Cosigned for a Private Loan
    By OMFS in forum Student Loans
    Replies: 1
    Last Post: 01-19-2010, 05:14 PM
  2. Mortgages: Refinancing a Cosigned Loan
    By Marie2009 in forum Real Estate Finance
    Replies: 1
    Last Post: 07-14-2009, 05:52 AM
  3. Cosigners: Cosigned a Loan About to Go into Default
    By beavnutz in forum Student Loans
    Replies: 4
    Last Post: 09-22-2008, 05:19 PM
  4. Cosigners: Cosigned For Loan
    By doctored2 in forum Auto Loans and Repossession
    Replies: 5
    Last Post: 05-01-2008, 01:48 PM
  5. Cosigners: Cosigned A Loan On Repossessed Car
    By dumbfounded in forum Auto Loans and Repossession
    Replies: 4
    Last Post: 01-03-2008, 10:52 AM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
 
Forum Sponsor
Bankruptcy Forms
State specific bankruptcy forms at affordable prices. Download and use.


Untitled Document