Sparks, NV asked in Bankruptcy for Nevada

Q: Volunteer Surrender on co-signed car loan post-bankruptcy Ch7?

My mom was my co-signer for a car loan since then I have filed for bankruptcy and I am thinking of doing a voluntary surrender on the auto but I am scared it will affect her credit as well. I checked my credit and hers and there is something that got me off guard. On my account it states that the loan responsibility "individual" and on hers it shows "terminated". For example:


Account Details

Account status: Closed

Type: Automobile

Responsibility: Individual

Remarks: Chapter 7 bankruptcy

Times 30/60/90 days late 0/0/0

Closed: Apr 30, 2017

-My mothers

Account Details

Account status: Closed

Type: Automobile

Responsibility: Terminated

Remarks: Closed

Times 30/60/90 days late 0/0/0

Closed: Jun 30, 2017

With this information would i be safe to think that it will no longer harm her credit if I decide to surrender?

Related Topics:
1 Lawyer Answer
William Cope
William Cope
  • Bankruptcy Lawyer
  • Reno, NV
  • Licensed in Nevada

A: Your bankruptcy discharge will no protect your mother. If the loan documents specify that she is liable if you do not pay, then the crediter will most likely be able to pursue her if it chooses to do so.


Bill Cope

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