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Reload this Page Corp BK W/Car co signed

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Old 08-17-2009, 04:47 PM
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Join Date: Aug 2009
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Corp BK W/Car co signed

What is the name of your state (only U.S. law)? Florida

We are going to BK7 the business and there is a company car that I co signed for but I'm not on title. The car I would like to let go but I have the feeling the bank will send it to auction and come to me for the difference. They are not reporting it on my credit right now. What are my options?
  #2  
Old 08-19-2009, 07:25 AM
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Join Date: May 2001
Posts: 6,450
If you gave a personal guarnatee, you are correct. You are responsible for any deficency balance should the bank auction it off and not receive enough to retire the note.
Your best option is to stay current.
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