Legal Question in Bankruptcy in California
Co-signer on car but filing
I am filing for bankruptcy. My father bought a car for me that I am the co-signer on and make the payments. I am still making payments and want to keep the car. Where do I include this on my forms and do I have to include my father as a co-debtor? I have no idea on how to go about this? I need to know what to do exactly. What schedules to put things on etc.
2 Answers from Attorneys
Re: Co-signer on car but filing
List the car on schedules B, C, D and the non-security interest, if any, on F. List your father as a co-debtor on H. You also must list it on your statement of intentions, as well as in your statement of financial affairs if you paid the creditor more than $600 in the past 180 days. Your bankruptcy likely will be reflected on your father's credit report, and the lender likely will require him to continue paying.
Re: Co-signer on car but filing
Cohen gave the best advice.