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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2898
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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A Credit Card Co filed Co-Debtor Stay Not sure what to d

Customer Question

A Credit Card Co filed Co-Debtor Stay? Not sure what to do?
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 8 years ago.
I believe you are saying they filed a motion to modify the co-debtor stay. The automatic stay is your protection from your creditors. It extends to your cosigners as well. Unless you are paying the debt 100% through your case, the creditor can bring this motion to go after the difference from the cosigner, since they are equally responsible for the balance.

The court will normally grant this motion, unless you modify your plan to pay that debt 100% thru your case to protect the cosigner.
Customer: replied 8 years ago.
My husband filed Chp 13 in January of 2008. On 02/21/2009 we received the paperwork that a Motion for co-debtor stay was filed against me and him and I am not in the bankcruptcy. The problem is do we take care of this or the bankcruptcy attorney. Our hearing is 03/18. We have not heard anything from the attorney. So my question is what do we do?
Expert:  Terry L. replied 8 years ago.
Your attorney should contact you to go over what protection your husband wants. If he is not paying 100% in the plan, then the credit card company can come after any portion that is not paid, from you. Call the lawyer so that they have time to take the appropriate action in the case based on what you and your husband want to do.
Terry L. and other Bankruptcy Law Specialists are ready to help you
Customer: replied 8 years ago.



Thank you very much for your response.



Expert:  Terry L. replied 8 years ago.
you are welcome. good luck.

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