Legal Question in Bankruptcy in Arkansas

Bankruptcy & Co-Signer on Debt

When I filed for bankruptcy I had one credit card that my Father had co-signed years earlier on. My lawyer said that if they started calling and him papers to give them to her and she would take care of it. Well she has done nothing, is there anything to be done? When I got the credit card my Father and I both had good paying jobs~since things have changed. My Mother has a disease, she recently got disability. My Father (they are both eldery)has to take care of her all the time, he is lucky if he makes a few dollars each week. Then with the creditor calling,sending stuff,threatening~is stress that he does not need. He is unable to get any kind of credit now that they have put my mistake onto his credit history. Is there anything that can be done?

Thank You for your time,

Vic


Asked on 11/08/02, 4:23 pm

1 Answer from Attorneys
Herb Southern The Southern Law Firm

Re: Bankruptcy & Co-Signer on Debt

Your Bcy did not relieve your Dad of the debt. He is still on the hook. When was the last time that a payment was made? It could be beyond the statute of limitations to collect it. However, Dad's only way out is either to do his own bcy which he probably does not want to do, or SOMEONE to pay off the debt.

I don't know what your Atty was "going to do with it" but I don't see a lot that can be done with it. It was your BCY, not his and you were both obligated to pay off the debt. That means that he is still on the hook regardless of your bcy.

Have you thought about paying it off to save your Dad from your problems which obviously should not be inflicted on him because of you?

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Answered on 11/08/02, 11:46 pm


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