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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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co-signed loaned

Will filing bancruptcy allow loan forgiveness on a co-signed loan?

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One Response to “co-signed loaned”

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.