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  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
    Behind a Desk
    Posts
    98,846

    Default Re: Cosigned Vehicle Loan

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

  3. #3
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: Cosigned Vehicle Loan

    How is the vehicle titled?

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