Legal Question in Bankruptcy in Michigan
bankruptcy
my name is on a loan that was involved in my fathers bankruptcy. the creditor would have been paid but wasn't for an unknown reason. the creditor is now holding me responsible, am i liable, and why/why not?
2 Answers from Attorneys
Re: bankruptcy
If your name is on the loan as a responsible party or guarantor, and the loan has not been paid, you are liable.
Re: bankruptcy
your father's bankruptcy only discharged his debts. since this particular debt was a joint debt, your father is not responsible for it anymore, but you may still be. you'd have to look at your father's bankruptcy paperwork to see if the loan was paid in full as part of his bankruptcy - maybe the creditor made a mistake. but it sounds like they didn't get paid, for whatever reason, and are now coming after you. unless it was paid off, you are still on the hook.
Related Questions & Answers
-
Federal Tax Lien Can a federal tax lien be discharged through a ch 7 bk? Asked 5/17/07, 9:07 am in United States Michigan Bankruptcy Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
