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Debt Relief – Insolvency – Bankruptcy Information » Bankruptcy Help » What happens to my car if my cosigner files bankruptcy?

What happens to my car if my cosigner files bankruptcy?

I bought a car in December 2006, and my aunt cosigned for me. I put 20,000 down and the principal remaining now is about $27,000. I am making the payments and I’m the primary owner of the car. I live in Virginia and she lives in Maryland. What happens to my car and my credit if she files bankruptcy? and will this appear on my credit report? She didn’t file bankruptcy yet, but I am just so afraid. Please help me out.

Thank you.

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2 Responses to "What happens to my car if my cosigner files bankruptcy?"

  1. darchangel_3 says:
    Nothing as long as you keep up the payments.. if you dont they repo it.. simple huh?
    You are the principle lessee.. nothing will happen or go against you as long as you keep up the payments.. if you dont well yeah it will go on yer record and they will repo it (they used to pay me to do such things once upon a time.. i did it for fun more than the money.. it was a side job.. i was good at re-stealing cars once upon a time LOL)

    BTW thats a damn expensive car sheesh…

  2. spifiman1 says:
    As long as you continue to make the payments you will be fine.

    It will show on your credit as “Included in bankruptcy of another person” but it will not effect your credit score since you are not the one that declared.

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