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co-signer

If I were to claim bankruptch, what would happen to a loan taken out at the bank with a co-signer who passed away a year ago?

Posted from: Ontario

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One Response to “co-signer”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

Assuming there was nothing in the deceased estate, you are the one who is left fully responsible for this debt. So if you filed for bankruptcy, you would be cleared from the debt and not much would change. Technically the deceased’s estate is liable for this amount, but if there isn’t anything in this estate this is ultimately where it would stop.