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Reaffirming a co-signed car loan?

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Gregeney

Member
What is the name of your state? KY

If someone who co-signed a car loan for her daughter files chapter 7, does she need to reaffirm the debt so her daughter can keep the car? In other words, can the creditor call the non-filing daughter's note if they lose the reassurance of the co-signer?
 


bigun

Senior Member
You will need to read the contract you both signed with the lender and see if it addresses a bk question.
If the note is current, they will likely just let the non filer continue to pay under the agreed terms and not run the risk of a potential default.
 

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