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Ask WALLSTREETESQ Your Own Question
Category: Bankruptcy Law
Satisfied Customers: 17223
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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My dad co-signed for a car loan for me and now has filed chapter

Customer Question

My dad co-signed for a car loan for me and now has filed chapter 7 bankruptcy. I have made every payment on this loan and am now less than a year from payoff. I do not want to lose my car. Will his bankruptcy affect ME and the car loan?? I live in Oregon.
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 7 years ago.
he can reaffirm the car, in his bankrutpcy case, which means he will keep it, and make the payments outside the bankruptcy, make sure he does that, it is very simple to do, if not, the car note would be discharged, on him, and possibly the vehcile would be returned. But in most cases the car company will allow you to keep it if you pay, but do not take a chance.
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Customer: replied 7 years ago.
He is being represented by an attorney in his case. Do I need to be at the hearing to make sure I don't lose my car or because my dad is 1st on the loan, it is his responsibility to get this reaffirmed?
Expert:  WALLSTREETESQ replied 7 years ago.
call your father make sure his attorney reaffirmed the car, if not make sure it is, it would apper in the statement of intention.