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Law Girl
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Category: Bankruptcy Law
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Five years ago my daughter obtained an automobile loan. I ...

Resolved Question:

Five years ago my daughter obtained an automobile loan. I co-signed. The vehicle was reposessed two times. I helped retrieve the car after the first reposession. After the second reposession she filed Chapter 7 bankruptcy and let the car go. Recently a collection agency has contacted me seeking payment for the loan. What is my recourse?
Submitted: 9 years ago.
Category: Bankruptcy Law
Expert:  Law Girl replied 9 years ago.


Thank you for your question.

Unfortunately, since you are the co-signer on the vehicle, you can be held responsible for any outstanding amounts on the vehicle. If the vehicle was repossessed as part of the Chapter 7 proceedings, then they may be trying to collect the difference between what was owed on the vehicle and what they were able to auction the vehicle for.

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Good Luck!

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