I'm helping a friend file a pro se bankruptcy Chapter 7 in California. He already filed his petition and had his creditor's meeting a couple weeks ago. He recently realized that his ex-wife still has a leased car with his name as a co-signer. He wants to be off the lease as a co-signer. His ex wants to keep the car and continues to pay for it. He hasn't listed this lease in his petition. What needs to be amended in order for him to get his name off the lease?
-
-
He has to list the lease on his petition.Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick -
My question was, what amendments does he need to file to get the lease discharged? Does he need to mark "surrender" in the Statement of Intention?Comment
-
he can't surrender because his ex is still paying for it! surrender means they can go repo it.filed ch7 May 09
341 june 09
discharged, closed Aug 09
Comment
-
I appreciate your reply but now I'm even more confused. What options does he have in terms of removing his name off the lease? Can he be removed from the lease and allow her to retain the vehicle? If so, how does he indicate that in an amendment?Originally posted by music12 View PostComment
-
Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -RickComment
-
sorry for confusing you, but the reason is probably just that i don't know.
however, my feeling is it shouldn't matter, because only the following scenarios could happen:
1. the ex keeps paying. in this case, it doesn't matter if he listed it - the creditor is getting everything owed.
2. one day the ex stops paying. then they can repo the car from her. the repo would happen regardless of whether his name is also on the lease or not.
the only sticky point might be if they repo it and still go after the balance. in that situation, given the bk they should be able to go after her only, and not him. in this case, if he was a no asset case then his debt is still discharged even though the lease wasn't listed (while hers is not). but if he was an asset case, it gets sticky because his debt may not have been discharged because the lease wasn't listed.filed ch7 May 09
341 june 09
discharged, closed Aug 09Comment
-
He surrenders his interest. The other party can keep paying and keep the vehicle most likely.7-2-2009 Filed
8-28-09 341 Concluded, no assets
10-28-09 DISCHARGED/CLOSED!!!!
Comment
Comment