Codebtor (no hyphen, see 1302)
Posted: Wed Oct 27, 2010 3:42 pm
Dennis,
This is my second offense on the hyphen! I appreciate your input. Debtors are on title as joint owners but have never made any payments so % of ownership is close to zero. I will disclose this under the schedules and also mention in SOFA #14.
Thanks again for the help,
Robert
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> list the cosignors as co-owners. (hyphenate when last letter of prefix is the same as the frist letter of word to which prefix is attached)
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> you don't address who is on title. If co-owners are on title, you only have to exempt the portion owned.
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> dennis
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> --- On Wed, 10/27/10, Robert wrote:
>
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> Subject: [cdcbaa] Co-debtor's voluntary debt repayment
> To: cdcbaa@yahoogroups.com
> Date: Wednesday, October 27, 2010, 6:51 AM
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> Husband and wife want to file for Chp 7. Husband and wife were co-signors on cars for two different relatives.
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> Relatives paid off (with separate funds) one car loan for 8K in January 2010 and another 11K in August 2010.
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> Husband still holds title as an "OR" option on the title.
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> The problem is, when including all of their other property, they are probably shy of exempting the total value of the vehicles by 3 or 4K.
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> I have copies of cashier's checks from relative's bank account...My thinking was to disclose disclose disclose and hope Trustee does not want to sell a car.
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> Any thoughts?
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