August 4th, 2006 by Questions

Can someone filing for bankruptcy claim a debt that has been co-signed for by someone as his own liability?
The debt is a line of credit where both people’s names appear on it and was notarized with both names.

The ”bankrupt” has not been making payments for over a year and the co-signer has resumed the payments.

Thank you.


One Response to “Liabilites”

, Barton Goth, GCO Inc. Bankruptcy Trustees said:

When someone files for bankruptcy, they are cleared from most all their unsecured debt, including co-signed debts. What then happens is that the person who has co-signed the debt becomes solely responsible that the entire balance of that debt be paid in full.

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