Home > Legal > Questions & Answers > Bankruptcy / Debt > My mother co signed on a loan for a car for me that was repossessed. They say I owe 24,000.00. I would like to file a Chapter 7
My mother co signed on a loan for a car for me that was repossessed. They say I owe 24,000.00. I would like to file a Chapter 7
I do not want me mother having to repay this debt, but I can not afford to do a chapter 13 to repay 24,000 for a car I do not have and she can't afford it either because she is now disabled on disability. please help!
If your mother is the only signer on the car loan, you will not be able to file on her behalf to get rid of it. Unfortunately, your mother may have to file herself to rid herself of this debt. Should you need to consult further with an attorney, please give my office a call at 678-954-5677. Good Luck
This answer is in no way intended to establish an attorney-client relationship and in no way binds J Curry Law Group, LLC or any of its member attorneys to such a relationship.
If your mother is on social security and has no assets that can be attached, such as, a house or car, then the social security cannot be garnished and she is basically judgment proof. However, if she has assets that are within the amounts allowed by the state exemptions, she could possibly file a Chapter 7 case and wipe out the debt. Additionally, you may want to consider a Chapter 7 case to eliminate the debt. Finally, in most Chapter 13 cases that we file, the clients pay back only a small percentage of the debt. For example, if you qualified for a 1% Chapter 13 case, you would actually pay back $240 of the $24,000. debt owed on the car. Your issues are certainly serious enough to schedule a free consultation.
***This answer is based upon the limited amount of information provided. Additional information is needed to formulate a plan of action. This dialogue does not create an attorney-client relationship between the parties.***
