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Ms. L.

I am debating whether to claim bankruptcy as I co-signed on a car loan & that person has declared bankruptcy. The car is not driveable let alone I can’t afford $14,000 pay-out to the bank. I already have credit card bills etc. The person who has already declared bankruptcy was in an accident with the car a year ago with no insurance, therefore the car never got fixed & now I am left with that. What should I do?

Posted from: Ontario

One Response to “Ms. L.”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

You need to talk to a licensed trustee. It may be that a bankruptcy makes sense, certainly everything you have outlined here suggests that, but you will never know for sure with out a proper evaluation being performed.