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Co-signer bankruptcy VW Credit

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Co-signer bankruptcy VW Credit

I have a lease on a 17 Jetta. Recently my co-signer filed for chapter 7. So I’ve been advised multiple things from VW Credit. My co-signer will not reaffirm. I’ve basically lost all access as account owner. I cannot utilize the online portal and will no longer receive statements.

I was advised by a rep that I technically don’t have to make payments since it affects the account. He also stated I could return the vehicle with no repercussions. However, another rep stated that I would be potentially liable for all the end lease fees and remaining payments.

Do either of these scenarios sound accurate? I can’t get a straight answer from the lender themselves. My biggest fear is that I ruin my credit when this is all said and done. The bankruptcy hasn’t discharged yet, and they’re not reporting to my credit.

I’m torn spending the next three years having to call in payments and not receiving statements. It’s a four year lease and I have three to go. What’s the best idea? I could just go get another vehicle since I’m not in a bankruptcy?
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Re: Co-signer bankruptcy VW Credit


@jvallandigham wrote:
I have a lease on a 17 Jetta. Recently my co-signer filed for chapter 7. So I’ve been advised multiple things from VW Credit. My co-signer will not reaffirm. I’ve basically lost all access as account owner. I cannot utilize the online portal and will no longer receive statements.

I was advised by a rep that I technically don’t have to make payments since it affects the account. He also stated I could return the vehicle with no repercussions. However, another rep stated that I would be potentially liable for all the end lease fees and remaining payments.

Do either of these scenarios sound accurate? I can’t get a straight answer from the lender themselves. My biggest fear is that I ruin my credit when this is all said and done. The bankruptcy hasn’t discharged yet, and they’re not reporting to my credit.

I’m torn spending the next three years having to call in payments and not receiving statements. It’s a four year lease and I have three to go. What’s the best idea? I could just go get another vehicle since I’m not in a bankruptcy?

@jvallandigham wrote:
I have a lease on a 17 Jetta. Recently my co-signer filed for chapter 7. So I’ve been advised multiple things from VW Credit. My co-signer will not reaffirm. I’ve basically lost all access as account owner. I cannot utilize the online portal and will no longer receive statements.

I was advised by a rep that I technically don’t have to make payments since it affects the account. He also stated I could return the vehicle with no repercussions. However, another rep stated that I would be potentially liable for all the end lease fees and remaining payments.

Do either of these scenarios sound accurate? I can’t get a straight answer from the lender themselves. My biggest fear is that I ruin my credit when this is all said and done. The bankruptcy hasn’t discharged yet, and they’re not reporting to my credit.

I’m torn spending the next three years having to call in payments and not receiving statements. It’s a four year lease and I have three to go. What’s the best idea? I could just go get another vehicle since I’m not in a bankruptcy?

Negative on getting another vehicle. Your cosigner filing BK doesn't get you off the hook for the loan and it would still trash your credit.

 

Keep making your payments on time, every time and this will all be fine. You will need to send a check or see if you can pay by phone.

Ch 7 Discharge May 2015
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