If you have a joint car loan and are considering filing for bankruptcy, it's important to understand the potential impact on you and your co-borrower. In general, filing for bankruptcy will not discharge (eliminate) your obligation to repay a joint debt, such as a car loan. This means that your co-borrower will still be responsible for the entire amount of the loan, and may be required to make payments on your behalf.
It's important to note that your bankruptcy options and the specific impact of bankruptcy on your joint car loan may vary depending on the type of bankruptcy you file (Chapter 7 or Chapter 13) and the laws in your state. Therefore, it's crucial to discuss your situation with a bankruptcy attorney. They can help you assess your options, understand the potential consequences, and make informed decisions about the best course of action.
