Co-Signing

[jazzyp26]

What is the name of your state? Georgia

My question is I co-signed with my ex husband for his truck, now it has been reposed and the deficiency judgment has been declared. I would like to know if he files bankruptcy will they still come after me for the balance due on the truck? If so would it be to my advantage to file bankruptcy?

Could I purchase a new home before I would need to take any actions for this?

[LdiJ]

Originally Posted by jazzyp26

What is the name of your state? Georgia

My question is I co-signed with my ex husband for his truck, now it has been reposed and the deficiency judgment has been declared. I would like to know if he files bankruptcy will they still come after me for the balance due on the truck? If so would it be to my advantage to file bankruptcy?

Could I purchase a new home before I would need to take any actions for this?

Its already on your credit record as a repo...which could make it difficult for you to purchase a house. Yes, if he declares bankruptcy they will go after you for the balence. Whether it would be advantageous for you to file bankruptcy rather than pay off the deficiency would depend on your overall situation.

[jazzyp26]

GA,

No it hasn't it my credit report yet this just happend and they have just sent a notice as the balance due on the truck.

If I act fast enough I could get me a new car and put it in my bankruptcy?

So I guess I would really have no other choice other than to file bankruptcy because I don't have the money to pay off the balance

[Zephyr]

If I act fast enough I could get me a new car and put it in my bankruptcy?


probably would not work, in bankruptcy there is a period of time right before the filing where you cannot claim those, basically so people will not do what you are wanting to do- theft by deception?

[jazzyp26]

I really don't want to file bankruptcy or put anything in it, I just wanted to buy me a new house and car.

If I act fast enough could I buy me a house and new car ,but only put the money due for the balance of the co signed loan in it.

I don't have a problem with paying my bill never have and don't intend to, I have been put in a bad situation with my ex husband

Is there any help for me I just don't know what to do

[LdiJ]

Originally Posted by jazzyp26

I really don't want to file bankruptcy or put anything in it, I just wanted to buy me a new house and car.

If I act fast enough could I buy me a house and new car ,but only put the money due for the balance of the co signed loan in it.

I don't have a problem with paying my bill never have and don't intend to, I have been put in a bad situation with my ex husband

Is there any help for me I just don't know what to do

The repo is going to hit your credit report fairly quickly. If you were able to purchase a house and car, then you could file bankruptcy and reaffirm the house and car loans.