Q: My ex boyfriend filed bankruptcy on a truck I consigned on. How does this affect me and who can I call to fix things?
A: If two parties are liable on a note, and one files a Chapter 7 bankruptcy and discharges the debt, the other party is still liable on the debt. The vehicle would likely be surrendered to the creditor by the person who filed Chapter 7, and the vehicle sold. The other party would still be liable for the difference, or what is known as the deficiency balance.
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