Legal Question in Bankruptcy in California
i bought a car frm a friend who did not have title.
His boss had the title and a loan from B of A.
I paid 50% down and cant pay the balance to my friend so his boss cant pay the B of A loan. car is worth only 3k and loan is 2900 left to pay.
If I file chpt 7 BK and have no W-2 or other income, do both loans get wiped out??
Asked on 8/30/10, 5:32 pm
1 Answer from Attorneys
Asaph Abrams
Law Office of Asaph Abrams
Bankruptcy can absolve you of liability to your
friend; it won't affect his boss's liability to BofA.
Please seek legal counsel b4 taking bk-related
action (or inaction). The above is general opinion that may not
address your specific or actual situation.
Answered on 9/04/10, 6:51 pm
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