my wife took out a bike loan 2 months ago, and my name is second on the loan ,but i will be filing chapter 7 in 2 months will she lose the bike?
1 Answer from Attorneys
No, as long as she continues to make the payments on the loan. Under Connecticut law (Section 36a-645) you are not required to sign a reaffirmation agreement. Just because you filed a bankruptcy petition does not mean that the Vehicle Finance Company has the right to repossess the vehicle. They will not be sending you bills, but she still has to pay.