If my mother is going through a bankruptcy and she is a co-signer on my paid off car, what options do I have to keep it?

UPDATED: Sep 2, 2011

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If my mother is going through a bankruptcy and she is a co-signer on my paid off car, what options do I have to keep it?

The car is under both of our names and I paid the payments on the car. My mother has recently filed a Chapter 7 and my car was included within the bankruptcy before we were able to have her sign over her portion of the car to me.

Asked on September 2, 2011 under Bankruptcy Law, Florida


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

The car where your mother co-signed for the loan that you obtained to buy the vehicle is your car, not hers. I presume registered title to it is in your name. When a person co-signs a loan, he or she is responsible for its terms and payments even though the person who actually owns the item subject to the loan is the main person obligated under it.

Your mother named the lender concerning the car in her bankruptcy filing in an attempt to discharge this obligation she has through her own bankruptcy. If your mother is discharged on her obligation as a co-signer on the car's loan, you will be the only one responsible for making sure that the loan for your car stays current.

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