Auto payment but car repossesed

November 23rd, 2010 by Questions

My girlfriend is considering going bankrupt. She has a former boyfriend that left her with nearly 70K in debt. She was a cosigner on a truck for him which was repossessed and sold. The outstanding balanced is 18K. Can that be declared as there is no attached asset to it?

Posted from: Alberta


One Response to “Auto payment but car repossesed”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

If your girlfriend is going to file bankruptcy she not only should list the debt from teh repossessed vehicle, but is required to by law. The bankruptcy will then serve to clear her from this truck loan as well as the other unsecured debts she has been struggling with.

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