I doubt your sons car will be considered part of the bankruptcy. The judge will use discretion. It's your sons car and if he's keeping up with the payments, it's doubtful that the judge your son will be effected negatively.

When filing bankruptcy you are required to list all sources of debt, including the loan for your son's car.

If your son is current with the payments, normally nothing will change. However, if the account is delinquent or your son is facing repossession and the bank is looking to you as the co-signer to make good on the loan, the debt could be included in the bankruptcy. If this happens, he may have to surrender the vehicle unless the debt is reaffirmed.

I recommend consulting a bankruptcy attorney for clarification. Many provide free consultation, even online. Here is one:
http://www.lawinfo.com/co-signers-spouses-and-othe rs.html

Considering bankruptcy is a tough decision for anyone. I wish you all the best, and hope this has helped in some way.

As long as your son has the payments under control, or you're helping him make them, nothing will happen. Since you're the co-signer, the primary borrower still holds the chief responsibility for the loan.

The only way it would negatively impact him is if payments weren't being made, and the bank issuing the loan then looked to you. Seeing a bankruptcy being processed, they would probably speed up their process of repossession, or impose other penalties. Just make sure the account is in good standing and that your son is relatively stable before you file. As long as these conditions are met, your son's credit rating shouldn't be touched in any way by your own bankruptcy filing.

Hopefully, you co-signed the loan because he is young and didn't have a well established credit history. If he's responsible and able to pay the loan, then there shouldn't be any glitches from bankruptcy proceedings that are separate from his finances.