Posted on: 28th Sep, 2009 12:52 pm
my grandfather co signed for me to get a car. at first i could make the payments good but i have gotten behind so now the creditor is harrasing him and he doesn't even remember co signing for the car. if i file chapter 13 bankruptcy what are my options to protect him. he is 81 years old.
Make your payments. Get a second or third job if you have to.
as a guarantor he is liable for any debts you do not pay.
If you default, the obligation to pay becomes his. He placed a great deal of trust in you by giving himself as guarantor, I think you really need to look at either selling the car to discharge the loan and just eat the loss, or look at a debt consolidation loan or similar option to try and get your
[Promotional text deleted as per forum rules. Thanks.]
If you default, the obligation to pay becomes his. He placed a great deal of trust in you by giving himself as guarantor, I think you really need to look at either selling the car to discharge the loan and just eat the loss, or look at a debt consolidation loan or similar option to try and get your
[Promotional text deleted as per forum rules. Thanks.]
