Your cosigner has some big problems if you file bankruptcy. First of all let’s talk about who a cosigner is. Remember when you couldn’t get that loan unless someone signed the loan for you? Most typically this involves car loans, or if you had been arrested, a bail bond. When someone signs with or for…
A co-debtor stay will protect your cosigner if you take the proper steps. Your buddy or relative asked you to cosign so he could get a loan. He now needs to file a bankruptcy. You heard the filing can protect you. You first need to understand how it can happen. He must file a Chapter…
In the past week I have had consultations with two different people concerning the same issue from opposite sides. The problem involves cosigning. One is a young man who has had some difficulty over the past years with buying and keeping cars. The other was a parent who cosigned for an adult child. In both…