Legal Question in Bankruptcy in California
Co-Signer
I and a ex-girlfriend purchased a timeshare in 2006, I have been making payments since. I am thinking of bankruptcy. I know she would be responsible for this debt if it is discharged. Can she sue me and come after me for what is owed on this debt?
1 Answer from Attorneys
Re: Co-Signer
No - if you list her in the bankruptcy as a creditor, the obligation you may owe her for the timeshare debt would also be discharged. The question is whether the timeshare has equity, in which case the trustee may seek to liquidate your share - meaning your girlfriend can either buy your half of the equity from the trustee, or he'll sell the whole thing and she should get her 1/2 equity share. There are a lot of possible outcomes - check with your bankruptcy attorney. Call or email me if you want to discuss this further.
*Due to the limitations of the LawGuru Forums, The Gibbs Law Firm, APC's (the "Firm") participation in responding to questions posted herein does not constitute legal advice, nor legal representation of the person or entity posting a question. No Attorney/Client relationship is or shall be construed to be created hereby. The information provided is general and requires that the poster obtain specific legal advice from an attorney. The poster shall not rely upon the information provided herein as legal advice nor as the basis for making any decisions of legal consequence.
Related Questions & Answers
-
Banruptcy A federal police officer can be fired for filing banruptcy Asked 5/13/09, 8:51 pm in United States California Bankruptcy Law
-
Chapter 7 how can i file for chapter 7 within next couple days.In forclosure,not... Asked 5/13/09, 11:03 am in United States California Bankruptcy Law