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?