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[juanito]

About 8 years ago, I cosigned on a car loan with my brother-in-law. But 2 years later, He defaulted on it, and filed a chapter 13 bankruptcy (nobody ever came after me). Okay, now fast forward 8 years:

A few days ago (October 16th), I got a letter from a collections agency on a debt that is - at least according to my credit report - past the Statute of Limitations (SoL is 6 years here). So my big question would be: Would His bankruptcy have affected the SoL from my (the cosigner's) end. Thanks for any input you all might give.

[adalwine]

And now you have discovered why cosigning (even for a family member) is not a good idea.

Get an attorney. For your own protection, get an attorney.

THE best way to find a lawyer is by word of mouth. Ask your: family, friends, coworkers, anyone you might know in the same situation, etc.

OR

Call your local (usually county) bar association. Ask for names of attorneys that handle Bankruptcy Law. (If money is a BIG problem, you could also ask for the phone number of your local LegalAid office. - the attorneys at LegalAid are "real" attorneys, but sometimes in the field of Law, how much you are willing to pay does affect the quality you get.)

OR

Go to your local Public Library. Ask the Reference Librarian for their "MARTINDALE-HUBBELL" - and/or on the computer www.martindale.com - to find an attorney based on practice, geography, etc.


When you call the law office(s), insist on speaking with the Lawyer. Just tell the Secretary the main idea of your matter - do not tell all the little details of your matter to the Secretary - save the details for the Attorney. When you get the Lawyer on the phone line, ask him/her:

- Do they give >>>FREE, initial consultations for the FIRST meeting? (most do, but not all - you have to ask, don't assume)
- How much do they charge (per hour)?
- Could you make payments on your account?
- Can they help you? OR Refer you to someone who can help you?

Good luck.



(This is based on my knowledge, information, belief, and life experiences. This was intended as personal opinion, and not intended to be used as legal advice. Seeking advice over the Internet is not a good idea - the field of Law is too complex for that. Please be careful and do your research.)

[aescby]

Chapter 13's do not remove or obliterate dates, but are usually set up on repayment plans of 5 years. So most likely in this bankruptcy, he was obligated to pay a certain amount each month which was not enough to pay off the entire loan, but to satisfy the lender.

http://www.bankruptcyhome.com/chapter13.htm

But his bankruptcy was for him, not you. So he most likely have satisfied his debt on the car loan, but you signed as a co-signor also. They maybe looking to you to satisfy the amount not repaid per the bankruptcy that he most likely has settled.

http://clarkhoward.com/liveweb/shownotes/2009/08/05/16362/
http://clarkhoward.com/liveweb/shownotes/2008/07/07/13747/

Technically it appears that the debt has exceeded the SOL, but;;;;;;due to the bankruptcy could still fall w/in the time frame, since he was making payments and was reaffirming the debt so that possibly they still have a few years left.

You need to make an appointment with a lawyer for your legal rights period. In 1 appointment you will know if they are barred from collecting due to the SOL, or if you are still on the hook. If the SOL is past, then your lawyer can send them a letter telling them to jump in a lake and you can move on.

good luck