Q: If I am a co signer and my name is on a vehicle loan, can I file bankruptcy without filing on that loan?

A: You can not pick and choose. If you file bankruptcy, it affects all your debts and all of your assets.

A: The Official Bankruptcy forms which every bankrupt must file in his/her cases require that the debtor list all debts and assets, signed by the debtor under penalty of perjury.

If you fail to disclose any claim against you or your estate of which you are aware, you will be opening yourself to a criminal charge of perjury, the penalties for which are quite severe.

It is never worth committing a felony while working to solve a financial problem.

A: Yes, however, even though you have to notify them in your bankruptcy pleading, you will decide if you are going to reaffirm that debt or not. Your co-signor will still be obligated to pay on the vehicle.

A: When filing bankruptcy, you must list all of your obligations. You must also inform the court of any possible rights you have in property.

However, this doesn't automatically mean the property will be taken away from you, or that you'll be forced to pay every debt you list on your petition.

Here, the auto loan may be somewhat unaffected, or you might be able to reaffirm the debt. The final determination is made by the court, often in conjunction with you and the lender. Your attorney will likely provide you with guidance on what to expect before you file your case. Good luck to you!