Posted on: 25th Jan, 2012 02:07 am
there's an auto loan in my name and i also have a co-borrower on that loan. my co-borrower is filing chapter 7 bankruptcy. he included the loan to his bankruptcy. what will happen to me?
Hi Tess,
Your co-borrower will get a discharge from the bankruptcy filing. You will become fully liable for paying off the car loan in full.
Take care
Your co-borrower will get a discharge from the bankruptcy filing. You will become fully liable for paying off the car loan in full.
Take care
currently you are liable for all amount that is due on both of you.if within three years your partner get a better position than you can recover your money from him otherwise after three years he will be discharge permanently.