co-debtor stay

co-debtor stay
In Chapter 13, there is an automatic stay that prevents actions against guarantors or co-signers of consumer obligations of the debtor.
If a mother co-signs a son's car loan and the son files a Chapter 13 petition, the co-debtor stay will prevent the loan company from collecting from the mother, during the case. (Bernstein's Dictionary of Bankruptcy Terminology)

United Glossary of Bankruptcy Terms 2012.

co-debtor stay
In Chapter 13, there is an automatic stay that prevents actions against guarantors or co-signers of consumer obligations of the debtor. If a mother co-signs a son's car loan and the son files a Chapter 13 petition, the co-debtor stay will prevent the loan company from collecting from the mother, during the case.

US Bankruptcy 2012.


Glossary of Bankruptcy.

Look at other dictionaries:

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