Results 1 to 2 of 2

Hybrid View

  1. #1
    Join Date
    Mar 2018
    Posts
    1

    Default Will a Chapter 7 Bankruptcy Clear a Bail Bond if You're the Co-Signer

    My question involves bankruptcy in the state of: TN
    I am related to the person I bonded out.
    Have no collateral put down against the bond.
    Just trying to see if this is even possible for a worse case scenario, as I didn't read the fine print of a bond I signed for my brother. Stupid mistake on my end. So trying to find out if my brother doesn't make his court dates and if the full amount of the bond falls back onto me, if this would be cleared by a chapter 7 Bankruptcy.

  2. #2
    Join Date
    Sep 2010
    Posts
    478

    Default Re: Will a Chapter 7 Bankruptcy Clear a Bail Bond if You're the Co-Signer

    The obligation to pay the bond is no different from any obligation such as a medical bill, personal loan, credit card, etc. It is dischargeable in bk. Many times such bonds have collateral. Had you given collateral then the bonding company would be a secured creditor and might be entitled to some payment or the surrender of the collateral. However, you indicate that you did not give any collateral therefore the bonding company would be a general unsecured creditor listed on Schedule F of the bankruptcy documents.

    Des.

    1. Sponsored Links
       

Similar Threads

  1. Bail, Bond and Pretrial Release: Bond Company Won't Release Guarantor from a Bail Bond
    By cdcw in forum Criminal Procedure
    Replies: 4
    Last Post: 01-30-2016, 01:29 AM
  2. Replies: 2
    Last Post: 09-26-2013, 05:33 AM
  3. Chapter 7: Is a Bail Bond Agreement Dischargeable in Bankruptcy
    By snbrillante in forum Bankruptcy Law
    Replies: 1
    Last Post: 02-27-2013, 11:03 AM
  4. Student Loans: Student Loan with Co-Signer and Chapter 7 Bankruptcy
    By confusedstudent in forum Debts and Collections
    Replies: 1
    Last Post: 07-28-2009, 11:54 AM
  5. Chapter 13: Co-Signer and Chapter 13 Bankruptcy
    By sheleft in forum Bankruptcy Law
    Replies: 2
    Last Post: 06-28-2009, 07:34 PM
 
 
Sponsored Links

Legal Help, Information and Resources