Legal Question in Bankruptcy in Michigan
car loan bankruptcy question
If the primary signer on a car loan files for bankruptcy and there is a co-signer, is the co-signers credit affected if the primary signer reaffirms on the loan?
Thank you
Asked on 1/11/06, 7:06 pm
1 Answer from Attorneys
Rochelle Guznack
Law Offices of Rochelle E. Guznack, PLLC
Re: car loan bankruptcy question
No; if the primary debtor on the loan reaffirms, that means he or she is promising to continue to make timely payments on the loan for the term of the loan. As long as this occurs, the co-signer should not be affected whatsoever.
Answered on 1/11/06, 7:20 pm
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