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Established Member
Posts: 14
Registered: ‎09-01-2011
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Liable or Not ?

I co-signed for a car for my step dad in 2002. In 12/2006, he filed Chapter 13 bankruptcy, and the car was included. The last date of payment was 12/2006. If the car was included in his bankruptcy, am I still liable for the car ??

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Valued Contributor
Posts: 2,441
Registered: ‎11-29-2012
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Re: Liable or Not ?

Yes, they can come after you for the balance.

Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
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Posts: 416
Registered: ‎11-03-2012
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Re: Liable or Not ?


Penister1983 wrote:

I co-signed for a car for my step dad in 2002. In 12/2006, he filed Chapter 13 bankruptcy, and the car was included. The last date of payment was 12/2006. If the car was included in his bankruptcy, am I still liable for the car ??


Confused. In a Chap 13, the debt is restructured and repaid. If he completed the 5 yr payment plan, there is no liability. 


Starting Score: 501
Current Score: 754 EQ,TU 745,EX 750
Goal Score: 800

Established Contributor
Posts: 594
Registered: ‎02-14-2013
0

Re: Liable or Not ?

Did he give the car up or was it repo'd?
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Re: Liable or Not ?

 

Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
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Valued Contributor
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Re: Liable or Not ?


shols44 wrote:

Penister1983 wrote:

I co-signed for a car for my step dad in 2002. In 12/2006, he filed Chapter 13 bankruptcy, and the car was included. The last date of payment was 12/2006. If the car was included in his bankruptcy, am I still liable for the car ??


Confused. In a Chap 13, the debt is restructured and repaid. If he completed the 5 yr payment plan, there is no liability. 


 

You're assuming a 100% repayment plan. If it wasn't,,there could be a balance on their books.

Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
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Senior Contributor
Posts: 4,439
Registered: ‎07-12-2012
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Re: Liable or Not ?


starry1 wrote:

shols44 wrote:

Penister1983 wrote:

I co-signed for a car for my step dad in 2002. In 12/2006, he filed Chapter 13 bankruptcy, and the car was included. The last date of payment was 12/2006. If the car was included in his bankruptcy, am I still liable for the car ??


Confused. In a Chap 13, the debt is restructured and repaid. If he completed the 5 yr payment plan, there is no liability. 


 

You're assuming a 100% repayment plan. If it wasn't,,there could be a balance on their books.

HEY! Where did that navchek come from in your siggy??? Thought you were in the garden! Lol #threadjack over sorry!!! Smiley Happy

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
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Re: Liable or Not ?

What? I am in the garden. Been here since about 11 a.m.

Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
Established Member
Posts: 14
Registered: ‎09-01-2011
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Re: Liable or Not ?

I'm really not sure......he's such a liar ! He said he did a VOLUNTARY surrender, but its showing up as an involuntary repo. The last payment(activity) on the car was made in December 2006, which is when under bankruptcy. He did provide me with his case number and attorney information to use in a dispute. I disputed, and they completely removed it from my transunion report. Then they removed it from my equifax, and then they placed it back on with an additional $2000 balance saying that a payment of $26.81 was made in 01/2012, which is not true. I disputed again, and now they've changed the last payment back to 12/2006, and the balance portion is left blank.

 

Established Contributor
Posts: 594
Registered: ‎02-14-2013
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Re: Liable or Not ?

Whether voluntary or not, you would still be liable for the difference. I'm not an expert on repos, cosigners and C13's (I was a 7), but if it were me, I would look up the SOL for your state. Also, do a search of court records for your county and state and make sure there isn't a judgement against you for this vehicle.

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