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if you have a car loan in a joint name with your partner and one of you declares

  1. profile image44
    alexhumphrysposted 8 years ago

    if you have a car loan in a joint name with your partner and one of you declares bankruptcy would

    you both loose the car

  2. scla profile image68
    sclaposted 7 years ago

    This depends on a number of things. If you are both on the car loan and one person filed for bankruptcy, then if you are current on the car payments and you continue to make your monthly payments and any equity in the car is protected, then you should be able to keep the car. On the other hand if you are not current on the payments and fail to continue to make the car payments after filing for bankruptcy then you are more than likely going to have the car repossessed. If you need further information on bankruptcy you can find out information at: http://www.socaladvocates.com

  3. zaffcommunication profile image49
    zaffcommunicationposted 7 years ago

    NO, you both can't lose that only the person who had declared bankrupt will lose his right...P Lease view my hub for more information about car loans.

  4. ShawnS. profile image60
    ShawnS.posted 6 years ago

    agree with zaff, only one who will lose the right

  5. profile image48
    jackdohsonposted 5 years ago

    Personal bankruptcy is the process of freeing yourself from overwhelming debts so you can make a fresh start, subject to some restrictions; and selling your high value assets so money can be shared out fairly among the people who money is owed to. Anyone can go file for personal bankruptcy, including individual members of a partnership.

    Source: www.bankruptcy-insolvency.co.uk