Posted on: 17th Dec, 2010 09:44 pm
My boyfriend and I own a car together. I am the primary owner and he is the co-borrower. I filed chapter 7 and we have not made payments on the car for 4 months now. My debts are now discharged as of November. I called the lender to ask if we can still continue to make payments or is the car in a repossession state. They stated that the car is under protection from me filing for bankruptcy but would not elaborate on it. What does that really mean?? If I am exempted from paying the balance, will they force him to continue paying and will they repossess the car? No one has contacted us to continue payment. When I filed, my attorney explained that once I file, the car is solely my boyfriend's responsibility, but I don't understand the lender's statement of having car under protection from me filing chapter 7...
Hi kashia,
If you had included the car loan in your bankruptcy and did not reaffirm the dues, then you're not personally liable to pay off the dues. The car loan has been discharged. You can surrender the property to the lender. He will sell off the property and recover as much dues as possible. He won't be able to come after you for any deficient amount.
Thanks,
Jerry
If you had included the car loan in your bankruptcy and did not reaffirm the dues, then you're not personally liable to pay off the dues. The car loan has been discharged. You can surrender the property to the lender. He will sell off the property and recover as much dues as possible. He won't be able to come after you for any deficient amount.
Thanks,
Jerry