Cleburne, TX Bankruptcy Law Firms & Lawyers

The rules about reaffirming a HOUSE are totally different from the reaffirmation rules relating to a CAR. So don't read on the internet a comment saying they could take the car, and then think that means they could take your house. Instead, take a look at the section of the bankruptcy code that governs reaffirmation. You'll see in there that reaffirmation agreements are for PERSONAL property (like cars, furniture or jewelry). Your house is not personal property, it's REAL property. Completely different animal.

Yes, you usually can keep your car when you file a bankruptcy. Most car lenders allow you to keep the vehicle as long as you are up to date in the payments, and have full-coverage insurance. Also, in most cases, the car lender will require you to sign a "reaffirmation agreement" for you to keep the car and still be responsible for making all the payments. It is important that you talk to an experienced bankruptcy attorney to review your whole situation and how a bankruptcy case would work for you.

Whether a party is an indispensable party is not a bankruptcy question, per se. In this case you should have your lawyer seek a stay of the action against you until such time as your co-defendant can participate in a trial. A finding of fraud would render the plaintiff's claims against your co-defendant non-dischargeable and the plaintiff's lawyer should be considering filing an adversary action in the bankruptcy court or seeking relief from stay. Meanwhile, your lawyer needs to do whatever he/she can to postpone trial so your defense can be asserted.