What are the rules about filing bankruptcy with co-signers or being the secondary cardholder on a credit card account? Also, would it be better to file an auto loan under bankruptcy or to have it voluntary reposessed?
2007-01-25 14:40:52 · 3 answers · asked by Anonymous in Business & Finance ➔ Credit
That is exactly why banks sometimes require co-signers. If the primary person can not pay they go after the co-signer. So declaring bankrupsy will not keep them from going after the co-signer for money.
If you have it reposessed that will also go on the Co-Signers credit so you really need to talk this over with them. I am not sure but I beleive that if you have a co-signer it can not be placed under bankrupty protection. For this you really should ask an attorney.
2007-01-25 17:19:17 · answer #1 · answered by OC1999 7 · 0⤊ 0⤋
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RE Can you file bankruptcy on an account that you are not the primary account holder?
What are the rules about filing bankruptcy with co-signers or being the secondary cardholder on a credit card account? Also, would it be better to file an auto loan under bankruptcy or to have it voluntary reposessed?
2014-09-23 05:37:48 · answer #2 · answered by Anonymous · 0⤊ 0⤋
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RE:Can you file bankruptcy on an account that you are not the primary account holder?
2014-06-28 03:11:44 · answer #3 · answered by Anonymous · 1⤊ 0⤋
you have to turn the vehicle back in so it would show automatically as a voluntary repossession. Anyone reading your credit report will know it is because of your bankruptcy that you had to turn in your vehicle. When you file for bankruptcy you list anything that shows on your credit report, which would include being a co-signer to anything.
2007-01-28 16:37:03 · answer #4 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋
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2015-02-10 15:40:23 · answer #5 · answered by Monty 1 · 0⤊ 0⤋