Q: I co-signed on a car loan for my uncle who's now filing for bankruptcy. Does this mean I'll be required to pay the loan
even though he's still driving the car, or can I make him turn it over to me?
A: If your uncle does not reaffirm the car debt then per the terms of the co-sign contract you may be liable for the debt. If he files a chapter 13 and pays the debt in full then you will be protected. See a lawyer for advice as to what your best options are. Under your State law you may be able to get the car in your possession if you are going to be paying for it. Good luck!
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