Q: What happens to a credit score of a second signer on a car if the first signer files bankruptcy?
Father in law was the main signer on our car. He has filed bankruptcy and my husband was the second signer. What happens to my husbands credit score if they end up taking the car in the bankruptcy?
A: You will have the option of continuing to pay and keeping the car even though the main signer filed bankruptcy. As long as you continue to pay for the car, husbands credit will not be affected.
Kevin M Rogers agrees with this answer
A: Your husband was the main “guarantor” in the note. Your father’s filing has nothing to do with your husband’s guarantee, as long as your husband continues to pay on the car note as he agreed to. Only if your husband defaults on HIS obligation to pay the note will it hurt his credit.
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