Can my husband refinance a loan to his name without it affecting my bankruptcy? 8 Answers as of June 30, 2011

My husband and I have a motorcycle loan. I am filing bankruptcy not him. However I am a cosigner on the loan. Can he legally refinance it into his name without it affecting my bankruptcy?

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Bankruptcy Law office of Bill Rubendall
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
If you are a co-signer on a loan and have filed bankruptcy you cannot re-finance the loan without permission from the bankruptcy court and the lender.
Answer Applies to: California
Replied: 6/30/2011
Mercado & Hartung, PLLC
Mercado & Hartung, PLLC | Christopher J. Mercado
The transfer will need to be included in the BK petition if you choose to do so.
Answer Applies to: Washington
Replied: 6/30/2011
Burnham & Associates
Burnham & Associates | Stephanie K. Burnham
Your spouse can refinance, however if there is equity you must make sure the equity is reflected on your Petition and exempted. There may or may not be an impact - it will depend on your circumstances. Do not use a refinance as an attempt to hide the asset from your Bankruptcy, it will Mottolo end well.
Answer Applies to: New Hampshire
Replied: 6/29/2011
Bird & VanDyke, Inc.
Bird & VanDyke, Inc. | David VanDyke
Maybe if he has the credit strength. The bk probably won't effect this though.
Answer Applies to: California
Replied: 6/29/2011
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
He can refinance it, are you asking if he can transfer it into his name? Most likely yes. Was it exempt? Did you list your interest in it in your schedules? If you have fully disclosed it it should not be a problem.
Answer Applies to: California
Replied: 6/29/2011
    Ashman Law Office
    Ashman Law Office | Glen Edward Ashman
    Probably not, without court approval. Possibly, with court approval. The details of the case that you did not tell us could change the answer. This is a question that you should run by your lawyer, as the answer depends on your case.
    Answer Applies to: Georgia
    Replied: 6/29/2011
    Law Office of Maureen O' Malley
    Law Office of Maureen O' Malley | Maureen O'Malley
    Depends on the timing and the reason. If too close to filing, not a good idea. Check its value vs what you can exempt. It may be free from creditor' reach as is.
    Answer Applies to: Virginia
    Replied: 6/29/2011
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