Legal Question in Bankruptcy in Florida

I financed a vehicle three years ago. Have made all the payments on time and am current. When I financed the vehicle, my credit was iffy,so a good friend cosigned for me. In order to get a payment I could afford the dealership had to list my friend first, and me as a cosigner. The vehicle has been mine from day one,I made all the payments,maintenance, the vehicle is insured and registered to me. Now because of housing problems my friend has been forced to declare bankruptcy. How will this affect me, What should I do. thanks Jaime


Asked on 9/01/09, 6:14 pm

1 Answer from Attorneys
Brent Rose The Orsini & Rose Law Firm

The bankruptcy trustee may take the car, depending on whether it has equity. Also, your credit may show, "co-debtor filed bankruptcy." There isn't much you can do about it, though.

Read more
Answered on 9/03/09, 12:14 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in Florida