Legal Question in Bankruptcy in California

Auto Repossesion

My boyfriend (buyer)& I (co-signer) are being sued for a remaining debt owed to a car that was repossessed. I am unemployed and have 1 child. Can I file for bancruptcy even thougH I'm just the co-signer. and are autos dischargeable?


Asked on 10/01/00, 5:34 am

3 Answers from Attorneys
Peter De Bruyn Law Offices Of Peter De Bruyn

Re: Auto Repossesion

a claim for a deficiency amount against a debtor whose vehicle has been repossessed or surrendered is dischargeable in a chapter 7 bankruptcy. co-signers are jointly and severably liable but their debt can be discharged as well.

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Answered on 10/31/00, 10:59 am
Mark Markus Law Office of Mark J. Markus

Re: Auto Repossesion

A deficiency amount owed on a repossessed vehicle is dischargeable unless they have obtained a judgment and secured it by a lien against specific property.

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Answered on 10/31/00, 3:25 am
Keith Knochel Law Offices of Keith Knochel

Re: Auto Repossesion

Since you are a co-signer for the loan, you are responsible for the deficiency which is dischargable through a chapter 7 bankruptcy.

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Answered on 11/01/00, 12:31 pm


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