January 8th, 2016 by Questions
My sister cosigned a loan for her daughter for her to consolidate her debts, her daughter stopped paying on the loan so my sister removed her daughter from the loan and did something ( maybe added it to her mortgage?) So she could have a lower interest on it. My question is If her daughter files for bankruptcy will she be able to include the money she owes my sister for that loan? I’m confused by it because by getting the loan from the bank; she would be paying the bank but because she faulted my sister was responsible as the cosigner, however for my sister to afford the extra expense she removed her daughter’s name and assumed the loan herself. If her daughter files for bankruptcy and includes the bank loan, does that mean my sister will not be able to collect any money from her daughter? Also, if her daughter includes the loan in the bankruptcy and she says it’s a bank loan and they incorporate it as such, will it make a difference seeing as her name is no longer attached to it?
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