If I co-signed for a loan and the individual is going through bankruptcy, what are my liabilities?

One who co-signs for a debt is liable for any payments that are not made by the debtor (i.e., your son).  Essentially, the institution that provides the loan is saying they only trust the main debtor if they have someone a bit more trustworthy says he will pay the loan if the debtor is unable to do so.  The creditor can seek payment from either the debtor or the co-signer of a loan because it made the loan under the assumption that it had two possible avenues of payment.

Even though bankruptcy is designed to erase or restructure the debtor’s financial obligations, it will not always discharge debts that a co-signer.  Whether you will be “on the hook” for the car will depend on the type of bankruptcy proceeding your son has pursued.  If your son is using a bankruptcy attorney for his filing, the attorney should be able to determine if you are responsible for the outstanding debt, and if so, could suggest some options for ensuring that you are not left with the debt.