auto loans with bankruptcy
If your co-signer on an auto loan files for bankruptcy, is there a legal fee that gets added to my loan?
My grandfather-in-law cosigned on an auto loan. He recently filed for bankruptcy. He doesn’t live with us nor is he involved with the car or its payments. I was just informed by the bank that because he filed, I will have an additional $350 charge added to the last payment of the loan for “legal fees” because of his bankruptcy. We are 5 months from completion on the loan and I can’t believe this. Is it even legal?
Speak to the supervisor and asked to have this fee waived using the facts that you have paid on time and you are 5 months from it being paid in full.
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