Legal Question in Bankruptcy in Florida

Effect on co-signer of my car if filing Chapter 7.

I'm thinking of filing chapter 7 bankruptcy. My mom is the co-signer on my car. I'm upside down in the payments on the car still, because it is a year 2000. I want to find out if my moms credit will be affected if I file. I want to be able to keep my car.


Asked on 6/21/00, 2:07 pm

1 Answer from Attorneys

Jules D'Alessandro D'Alessandro & Wright

Re: Effect on co-signer of my car if filing Chapter 7.

Your mother's credit as the co-signer is affected only if the loan is not paid and the car is re-possessed. Once the vehicle is re-possessed she as the consigner will be called upon to pay the loan along with you. You indicated that you would like to keep the car, therefore in your bankruptcy you will reaffirm the auto loan which means it will be pulled out of the bankruptcy and yuo will continue to pay the loan as if a bankruptcy had never been filed. If you do not re-affirm the auto loan you will not be able to keep the car.

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Answered on 9/09/00, 12:50 pm


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