Question: I co-signed for a friend to get a car. what happens if i go bankrupt ?
Answer: If you go bankrupt, the car lender can no longer pursue you for the debt. Your friend will be responsible to make all payments. We suggest that before you go bankrupt, your friend should contact the lender and ask to have your name removed from the loan. If they won’t do that, your friend should confirm that they can continue to make the loan payments if you go bankrupt.
