Will my sons credit be affected if I file bankruptcy? 19 Answers as of June 17, 2011

My son is co-owner of our car. Will his credit get affected if I file Chapter 13 bankruptcy? I also received court summons for unsecured debt. Can I file bankruptcy before I file answer to the summons?

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
Lakelaw - Loop Bankruptcy
Lakelaw - Loop Bankruptcy | David Leibowitz
Your son will still be liable. As long as the note is being paid, he'll be fine. You can file your bankruptcy at any time - even before you answer the complaint.
Answer Applies to: Illinois
Replied: 6/17/2011
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
File bankruptcy first so that you do not have to answer the summons. As for you son, if you are paying for the car in Chapter 13 it should not affect him.
Answer Applies to: California
Replied: 6/17/2011
Bankruptcy Law office of Bill Rubendall
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
There is a co-debtor stay during chapter 13 where collection is stopped against the non-filing borrower. This will not affect the co-borrower's credit as long as the debt is fully paid. If the debt is unpaid in part then it must be paid after the chapter 13 is over or else there will be negative credit implications and collection action. Secondly, a bankruptcy stops lawsuits from going forward.
Answer Applies to: California
Replied: 6/16/2011
Burnham & Associates
Burnham & Associates | Stephanie K. Burnham
Your son's credit may be affected if the payments on the car are not made in full and on time, no different than how his credit would have been affected if you did not file Bankruptcy. You also may stop Court action to collect a debt by filing Bankruptcy.
Answer Applies to: New Hampshire
Replied: 6/16/2011
Saedi Law Group
Saedi Law Group | Lorena Saedi
If you son is just on the title and not on the loan then his credit would not be affected however if he is also on the loan then those payments would need to be maintained in order to preserve his credit. You can file a bankruptcy at any time after receiving a court summons to stop the upcoming litigation.
Answer Applies to: Georgia
Replied: 6/15/2011
    Carballo Law Offices
    Carballo Law Offices | Tony E. Carballo
    Your son's credit report will show that the car loan is involved in bankruptcy but it should not have any significant effect on his credit so long as the payments are made on time. Yes, you can file for bankruptcy before the answer is due and stop the lawsuit.
    Answer Applies to: California
    Replied: 6/15/2011
    Ashman Law Office
    Ashman Law Office | Glen Edward Ashman
    Your question tells me you are thinking about making the enormous mistake of filing a case without a lawyer as all these things are things your lawyer would have discussed. The Chapter 13 may or may not affect your son's credit depending on how your Chapter 13 plan is written. With proper drafting you can probably protect him from adverse consequences and problems. As to the timing of a case, if you are in a suit you have a meter running on an answer. Generally, filing before filing an answer (and before the deadline to file an answer) is a good strategy, but since the timing of a case may affect its success, that order may get reversed to push your case into the month where it is most advantageous to file. These are decisions you will make after consultation with your lawyer.
    Answer Applies to: Georgia
    Replied: 6/15/2011
    Daniel Hoarfrost, Attorney at Law
    Daniel Hoarfrost, Attorney at Law | Daniel Hoarfrost
    Your son's credit will not be affected by your bankruptcy.If he also is listed on the car loan, he will still owe on the car loan.
    Answer Applies to: Oregon
    Replied: 6/15/2011
    Law Offices of John J. Ferry, Jr.
    Law Offices of John J. Ferry, Jr. | John J. Ferry, Jr.
    No, your bankruptcy will not affect your son's credit. On the summons, yes, you can file bankruptcy and stop the lawsuit. Keep in mind that the lender for the car can go after your son to collect on the debt.
    Answer Applies to: Pennsylvania
    Replied: 6/15/2011
    Law Office of Harry L Styron
    Law Office of Harry L Styron | Harry L Styron
    No your son's credit is not likely to be affected so long as he pays his own bills. Yes you can file a Petition at any time before or after the service of a summons, or even after the entry of a judgment, and it will have the same effect. It would be courteous to the plaintiff in the lawsuit and the court if you were to do it sooner rather than later, to save the expenditure of public time and money which will be expended by the court and its staff in handling a lawsuit which will never result in any useful result.
    Answer Applies to: California
    Replied: 6/15/2011
    Bird & VanDyke, Inc.
    Bird & VanDyke, Inc. | David VanDyke
    Sometimes when a co debtor on a loan files bk and the other co responsible party does not there can be some confusion with credit bureaus. This usually gets cleared up very quickly. Also you can file bk and avoid answering the summons. If you received a summons the worst thing you can do is ignore it.
    Answer Applies to: California
    Replied: 6/15/2011
    Financial Relief Law Center
    Financial Relief Law Center | Mark Alonso
    Your bankruptcy will not affect your sons credit. You can file a bankruptcy at any time, even before you file an answer.
    Answer Applies to: California
    Replied: 6/15/2011
    Ursula G. Barrios Law
    Ursula G. Barrios Law | Guillermo Machado
    You can file before you need to answer the complaint. Your son's credit may be affected.
    Answer Applies to: California
    Replied: 6/15/2011
    The Schreiber Law Firm
    The Schreiber Law Firm | Jeffrey D. Schreiber
    Only if the payments are not made on the car or you pay less than the full amount still due on the car. Yes, you can file before answering. The filing stops all further court action.
    Answer Applies to: California
    Replied: 6/15/2011
    The Law Office of Mark J. Markus
    The Law Office of Mark J. Markus | Mark Markus
    If payments remain current on the vehicle, it shouldn't affect your son's credit. Yes you can file bankruptcy before filing an answer to a complaint (not sure I understand that question...)
    Answer Applies to: California
    Replied: 6/15/2011
    Law Office of Maureen O' Malley
    Law Office of Maureen O' Malley | Maureen O'Malley
    It's not supposed to be. Will you be paying for the car in the 13? If so, they especially have no complaint. But he should check his credit report after you file and if it's mentioned and if they won't remove it, he should have a consumer lawyer sue them for violation of Federal law. It's best to file bankruptcy before you answer the summons, if everything can get done in time. (A lawyer is representing you, right? Retain one if not.) Then your response to the summons is that the BK ends the suit on the debt.
    Answer Applies to: Virginia
    Replied: 6/15/2011
    Bankruptcy Law Office of Robert Weed
    Bankruptcy Law Office of Robert Weed | Robert Weed
    Your son's credit can't be legally affected it rarely is affected illegally as long as the car stays current. You might use the Chapter 13 to reduce the car payment. Then his credit would be affected. Yes, you can file bankruptcy before you answer the summons if you go see a good bankruptcy lawyer right away and you both decide that filing right away is the smartest thing for you to do.
    Answer Applies to: Virginia
    Replied: 6/15/2011
Click to View More Answers:
12 3 4 Free Legal QuestionsConnect with a local attorney