My husband last year bought an off road vehicle for $14,000!!!! Anyway we could have easily put it in our names but for some reason thought he got a better rate having his father finance it for him. When it comes to file and we are going to soon I hope...what happens with this loan? I make the payments on this loan every month and have all the checks showing that I make the payments directly to them. Will this be a problem when filing a Chapter 7? Will they try and get the money back?
top Ad Widget
Collapse
Announcement
Collapse
No announcement yet.
Debt in father in laws name
Collapse
X
-
That loan will survive your bk since it's not in your name. Your FIL is still responsible for the payments.
Since you're paying the company directly, unless it's over $600 within 90 days of filing, the trustee won't go after it.
You need to let your FIL know he's gonna have to make payments until your bk is dischraged.
bottom Ad Widget
Collapse
Comment