Legal Question in Bankruptcy in Connecticut

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?

Asked on 2/06/15, 12:51 pm

1 Answer from Attorneys

Joel M. Grafstein Grafstein & Arcaro, LLC

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.

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Answered on 2/08/15, 8:57 am

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