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T O P I C R E V I E W
theresede
Posted - 11 November 2008 : 17:38:24 My da took a loan out for me in his name I pay the monthly installment from my bank to dads to the loan bank Is this included in my bankrupcy I am in court on Thursday 13th
2 L A T E S T R E P L I E S (Newest First)
John
Posted - 12 November 2008 : 01:35:59 Hi theresede
as your father has signed the finance agreement and his bank account is servicing the payments then legally the debt belongs to him and cannot be included in your bankruptcy.
Nor are you permitted to continue making payments to your father whilst you are bankrupt. If Dad can afford to continue the payments without your contribution each month then you could, if you wish, pay him back once you are discharged from bankruptcy.In most cases this would be 12 months from the date of your bankruptcy but it is becoming more common in relatively simple cases for you to be discharged even sooner.
