March 28th, 2011 by Questions
If I have a co-signer, on a lign of credit, is it still possible to file for bankruptcy?
Posted from: Ontario
March 28, 2011 at 10:10 pm, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
There is nothing that would prevent you from filing a bankruptcy. However, you must be aware that the filing of a bankruptcy would clear you from the line of credit, but would not have the ability to clear your co-signor. A bankruptcy can only release the person who has filed for bankruptcy from a debt, it doesn’t have the ability to clear a debt that was signed on by someone else.
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