Legal Question in Bankruptcy in California

Re: Co-owner went bankrupt

You need to first determine where he filed bankruptcy, and then you can either go to the bankruptcy court clerk's office, and ask to review the file (this is done electronically now), or you can sign-up for an account on PACERS which is the electronic records research tool you can access from anywhere via the internet. Go to the home page for the court's website, and there you can get information about how to access records electronically. There is a fee associated with records research online. If your friend also lives in San Bernardino County, then the proper court is the Riverside branch of the Central District of California - www.cacb.uscourts.gov.

You want to first determine if he listed the asset in the bankruptcy, and the debt. Next, you want to look to see what he indicated in his "Debtor's Statement of Intention" which says if he plans to keep the trailer and continue paying, or surrender it. Because you are a joint-owner, he can only surrender his interest, in which case you can continue making payments and keep the trailer. You need him to sign-off on title, however, as you don't want him to retain an interest in the trailer, but not have any liability for the debt. Finally, there is a chance that if there is equity in the trailer, and the Trustee decides to sell it, he can do so and you will have little ground to object. You should review the file, then contact a bankruptcy attorney to determine what is going to happen. You should also attend the Meeting of Creditors to see if the Trustee expresses any interest in selling the trailer to pay his creditors.

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