Showing posts with label co-signers. Show all posts
Showing posts with label co-signers. Show all posts

Monday, May 2, 2011

What Will Happen to My Co-Signer if I file Bankruptcy?

If you are considering bankruptcy and have debt that was co-signed by another person, then you have few options to protect that person. Unfortunately, in a typical chapter 7 case the automatic stay only protects you from creditors, not your co-signer. This means that while you will personally be relieved from liability, your co-signer will not.