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Bankruptcy Law/Ex-girldfriend going through bankruptcy and I am a Co-signer

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Expert: - 8/4/2009


Question
My ex-girlfriend is currently filing chapter 7 bankruptcy. I am a co-signer for a motorcycle that we got when we were together, which is through a credit card. I currently have the motorcycle and have been making my payments. My question is how is this going to affect me? Are they going to take my motorcycle from me since the finance company still has the clear title? Or will they let me keep the motorcycle and continue to make the payments until it is paid off? Is her bankruptcy going to affect my credit and make it look like I have a bankruptcy on my credit as well?

Answer
As long as the payments are current, you should be able to retain the vehicle, although the finance company may insist that your girlfriend enter into a "reaffirmation agreement."

Her bankruptcy will not affect your credit, unless you become delinquent on payments.

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Mark J. Markus- California Bankruptcy Attorney

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Mark J. Markus is a Los Angeles bankruptcy attorney who has practiced exclusively bankruptcy law in California since 1991 and is rated A+ by the Better Business Bureau and is AV-rated by Martindale-Hubbell. He represents debtors, creditors, and Trustees in Chapter 7, Chapter 11, and Chapter 13 of the bankruptcy code throughout California.

Experience

Visit our California bankruptcy webpage at http://www.bklaw.com for more information on bankruptcy in general and Mark J. Markus in particular. Many questions are answered on the web page (hint, hint).
The Markus webpage also contains more information on

  • Which Chapter to File,
  • business bankruptcy,
  • chapter 7 bankruptcy,
  • chapter 11 bankruptcy,
  • chapter 13 bankruptcy,
  • Do You Need a Lawyer to File Bankruptcy?
  • Frequently Asked Bankruptcy Questions

    Also visit our Los Angeles bankruptcy blog for interesting articles and much more.



    Organizations
    Central District Consumer Bankruptcy Attorneys Association (CDCBAA) Los Angeles County Bar Association (LACBA) Commercial Law & Bankruptcy Section of the Los Angeles County Bar Association Financial Lawyers Conference (FLC) National Association of Consumer Bankruptcy Attorneys (NACBA) Los Angeles Bankruptcy Forum (LABF) American Bankruptcy Institute (ABI) San Fernando Valley Bar Association (SFVBA)

    Publications
    Central District Consumer Bankruptcy Attorneys Association Newsletter September 2007 (Vol. 1, Issue 2)

    Education/Credentials
    J.D., University of Arizona 1990. B.A. Economics, California State University, Northridge 1986. For more details please click here

    Awards and Honors
    AV Rated by Martindale-Hubbell (http://www.martindale.com) A+ Rated by Better Business Bureau

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