This form is Schedule H. The form lists the codebtors to the bankruptcy petition. The form also contains the following information about the codebtors: name and address of the codebtors, plus the name and address of each creditor. This form is data enabled to comply with CM/ECF electronic filing standards. This form is for post 2005 act cases.
Co-Debtors - Schedule H - Form 6H - Post 2005
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US-BKR-F6H
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FAQ
A cosigner doesn't have any legal rights to the car they've cosigned for, so they can't take a vehicle from its owner. Cosigners have the same obligations as the primary borrower if the loan goes into default, but the lender is going to contact the cosigner to make sure the loan gets paid before this point.
The Co-Debtor Bankruptcy Stay When a consumer files for Chapter 13 bankruptcy relief, the stay also protects any other individuals who are also obligated on the debt, even if they did not seek bankruptcy relief. This is set forth in Bankruptcy Code section 1301.
If a co-signer files Chapter 7 bankruptcy, that person's obligation to pay the debt is wiped out (unless, of course, that person reaffirms or re-obligates himself to pay the debt).The child is not paying the debt, surrenders the car, and then files chapter 7.
Chapter 7 means no automatic stay If the borrower files for Chapter 7 bankruptcy, then cosigners aren't protected by the borrower's automatic stay.
Can you buy a house after Chapter 7 with a co-signer? Yes, having a co-signer can improve your chances of getting a mortgage after a bankruptcy. But it's far from a sure thing. Since lenders typically use the lower credit rating of the co-signer and applicant, you could still be facing an uphill battle.
If you file for Chapter 7 bankruptcy, your cosigner is still responsible for the debt.If you have a cosigner on your debts, your cosigner will still be responsible for the debt, despite your bankruptcy filing.
There is no specific law that applies a Co-Debtor Stay to Chapter 11 cases. However, some Chapter 11 debtors will ask the Bankruptcy Court to impose something like a Co-Debtor Stay against creditors. The Bankruptcy Court has the power to extend the automatic stay to co-debtors.
Chapter 12 also contains a special automatic stay provision that protects co-debtors. Unless the bankruptcy court authorizes otherwise, a creditor may not seek to collect a "consumer debt" from any individual who is liable with the debtor.
The Co-Debtor Stay applies to all individuals who are jointly obligated with the Chapter 13 bankruptcy debtor. It can be especially beneficial when only one spouse files bankruptcy and the couple has joint debts.