Articles by Damon Duncan

The bankruptcy code allows for only once spouse to file for bankruptcy. However, at times, it may be wise for both spouses to file to ensure that your assets are completely protected and to make sure that as much debt is wiped out so you can create your fresh financial start for your family.

Generally speaking, if someone cosigned a debt with you, and that debt is discharged or wiped out in the bankruptcy, the person who cosigned with you will be responsible for that debt.

These are common questions that many people have about bankruptcy. In an effort to provide you with information we have provided these frequent questions. However, it is important to realize that each state has different rules and these answers are not meant to be legal advice. Contact a bankruptcy attorney to learn more.

If you get behind on your car payment while in Chapter 7 bankruptcy, the finance company may file a Motion for Relief from Automatic Stay requesting that the bankruptcy court allow the finance company to repossess the car. In most Chapter 13 bankruptcy cases, your car payments will be included in your payments to the Chapter 13 bankruptcy Trustee if you are purchasing the vehicle. If you are leasing the vehicle, you will make lease payments directly to the finance company. If you get behind in your payments to the Chapter 13 bankruptcy Trustee or to the finance company for leases, the finance company may file a Motion for Relief from Automatic Stay requesting that the bankruptcy court allow them to repossess the car.