Auto Loans Co-Signer on an Auto Loan

[macg12]

After we had a bankruptcy discharged, our car finance company sent a statement to our co-signer stating more funds were due and owing. We thought this matter was completely finished in our bankruptcy. The company states that the petition was worded incorrectly for value of the vehicle rather than paying the finance company in full for the contractual obligation. Over the course of five years, it's also been accruing interest. So now we have a huge bill to pay that we did not count on. Or rather, the co-signer does. Is there anything the co-signer can do to fight this claim by this finance company?

Thank you.

 

[presutin]

Go back to your bankruptcy attorney and request the information filed with the documents. If he did this right, he got the correct amount from the finance company on the list of companies that were discharged. If that was indeed the case, you should share with the co-signer this information so s/he can send it to the company as proof that the amount financed was covered in the bankruptcy. Now, if that is not the case, then your attorney definitely messed up and you are going to have to come up with the money to pay for the amount owed. Remember, the co-signer would not have this bill if you had not asked them to help you with your purchase.