Am I responsible in my fathers bankruptcy? 5 Answers as of October 04, 2010

Creditors are coming after me because of a loan that my name was on. But my father was also on the loan and he was involved in a bankruptcy. The creditors are still coming after me. Am I really liable? I thought that this was all taken care of.

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Law Office of Barbara Seeley Curtis
Law Office of Barbara Seeley Curtis | Barbara Curtis
Your name was on it. You did not file bankruptcy.
Answer Applies to: Florida
Replied: 10/4/2010
Southern California Law Advocates
Southern California Law Advocates | Norma Duenas
If you were listed on the loan then the fact that your father was on the loan and filed for bankruptcy does not remove your liability. You are still responsible for this loan regardless of your father filing for bankruptcy. Your fathers liability would be removed through the bankruptcy but this does not remove your liability for the loan.
Answer Applies to: California
Replied: 10/1/2010
The Law Office of Mark J. Markus
The Law Office of Mark J. Markus | Mark Markus
Why would your liability be taken care of by someone elses bankruptcy? Bankruptcy only discharges the debts (if at all) of the person or entity filing bankruptcy. If you are liable on a debt before a co-obligor files bankruptcy, then you are liable on it after (unless, of course, the debt is paid in full through the bankruptcy).
Answer Applies to: California
Replied: 10/1/2010
Sussman & Associates
Sussman & Associates | Mitchell Sussman
Yes, if you were on the loan you are responsible.
Answer Applies to: California
Replied: 10/1/2010
Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
Yes, if your name is on the loan you are also liable.
Answer Applies to: California
Replied: 10/1/2010
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