How is a co-signer effected in Bankruptcy?
January 17th, 2014 by Questions
I have co-signed for a friend, who recently claimed bankruptcy. The loan is for a Leon’s account. Will we have to pay in the end? Is it recorded on our credit that we are linked to a bankruptcy? And if they do contact us after the payment is due (hasn’t came due yet), would we be paying the interest as well? I don’t want to wait around for someone to contact us, to find out we owe double the original amount because of interest.
Posted from: Ontario