February 22nd, 2008 by Questions
Will filing bancruptcy allow loan forgiveness on a co-signed loan?
February 23, 2008 at 12:05 pm, Barton Goth GCO Bankruptcy Trustees said:
If you file the bankruptcy and have a co-signed loan, you will be released from this debt but the cosigner will still be responsible for the debt to be paid in full.
Now things become a little more confusing if you are teh co-signor as the debt may be considered a contingent liability but that is a little more complicated than I can get into in this venue. As a result your best bet would be to contact a local trustee to have them review this with you directly.
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