Liabilites
Hello,
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.
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.