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Bankruptcy Law/Auto Loan in Chapter 13

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Expert: - 2/5/2011


Question
Hello,

 I am considering filing for Chapter 13 bankruptcy, and I currently have a 5 year auto loan (incurred only about 1/2 year old) in which my father co-signed.  As part of my plan, I would continue to pay this loan in full.  My question is, since this debt is not being modified/bifurcated, would my father be notified that I filed for bankruptcy.  As much as he would understand, it's personally embarrassing for myself, so if at all possible, I was hoping he wouldn't be notified.  Can you please advise?

Thank you!

Answer
Leon Bayer
Leon Bayer  
You are required to list all parties who are jointly obligated with you on any debts, so that means dad gets listed and notified.

I frankly expect you would feel a big sense of relief by telling him. Sometimes a worry is just too big to carry the whole thing on your own shoulders, and it makes you feel isolated and lonely. That's not a good place to be. You can find a great deal of personal peace by sharing your troubles with others who are undertstanding and who care about you.

That said, if this is the worst thing that ever happens to you, the rest of your life will be great. When you look back on this years from now through the prism of time, you will say it was not really such a big deal.

Go ahead and do what you have to do, without beating yourself down. Agreed?

If you or other readers want to keep up with my blog postings about life in and out of bankruptcy, you can follow my blog at http://www.bankruptcyblogger.org/ and my personal web site at http://www.debt-relief-bankruptcy.com  and A Human Guide to Bankruptcy at http://www.thebankruptcyguide.net/  

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Los Angeles Bankruptcy Lawyer Leon D. Bayer

Expertise

Leon Bayer has successfully represented clients in bankruptcy for over 30 years. He is frequently called upon by the media, the California Bar and other associations to provide insight and help educate attorneys on bankruptcy issues. If you or other readers want to keep up with my blog postings about life in and out of bankruptcy, you can follow my blog at http://www.bankruptcyblogger.org/ and my personal web site at http://www.debt-relief-bankruptcy.com and A Human Guide to Bankruptcy at http://www.thebankruptcyguide.net/ Leon also writes about bankruptcy law for Nolo, see http://www.nolo.com/law-authors/leon-bayer.html and his "Ask Leon" bankruptcy law blog column at http://blog.nolo.com/bankruptcy/

Experience

Leon is a Certified Specialist in Bankruptcy Law by the State Bar of California, and has been a practicing bankruptcy lawyer in Los Angeles, California for 33 years.

Organizations
National Association of Consumer Bankruptcy Lawyers, California Bar Association, Los Angeles County Bar Association.

Publications
Author, ?The Essentials Of Chapter 13,? Daily Journal Report, December 18, 1987.
Contributing Editor, Basic Bankruptcy, California Practice Handbook, Matthew Bender 1992, 1993.
CEB Consultant, CEB-Personal and Small Business Bankruptcy Practice in California, 2003.


Education/Credentials
B.A., J.D.

Awards and Honors
President, 1995-1996-Los Angeles Bankruptcy Forum; Member - Los Angeles County Bar Association Committee on Commercial Law & Bankruptcy, 1988. Law Advisory
Commission-Personal & Small Business Bankruptcy Law of the State Bar of California, 1996-2000

MR. BAYER SAYS: The big banks and credit card companys have been working overtime for many years to undermine the Consitutional right of the American people to be able to claim bankruptcy protection. In 2005 the banking lobby successfully convinced Congress and the President to make the laws and proceedures more complicated, hopeing that it will stymie legitimate people from filing bankruptcy. They succeeded in gaining these complex new legal proceedures by greasing the legislative system with hundreds of millions of dollars in "campaign contributions." The good news for the American people is that while the new laws have made the proceedures needlessly complex to the point where inexperienced people can't help but trip over the maze of new rules and regulations, the process is still doable, especially with a lawyer who is well trained and experienced in this specialty.

Past/Present Clients
I have probably handled something on the order of about 15,000 bankruptcy cases thropughout my career.

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