Q: I am a cosigner on a car and the primary is filing for bankruptcy and i am the person who has been current on the car
What am i suppose to do to keep the car if he files for bankruptcy?
A:
It depends on the lender, but in most cases as long as you continue making payment as required you'll be okay to keep the car. If the lender is Ford, they will probably demand that your cosigner reaffirm the debt. That person would need to talk to their lawyer about that.
Please note that the lender may stop sending you invoices, cancel automatic payments, and cut off your online access. Just call them and ask which address you should mail payments to.
Also note that the bankruptcy doesn't change the fact that the cosigner is also an owner of the car, so when you pay it off their name will be on the title. You might consider refinancing after the bankruptcy is closed to get them completely out of the equation.
Bruce Alexander Minnick agrees with this answer
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