Legal Question in Bankruptcy in California

Cosigner for someone who is filing

I cosigned a loan of approx. $4,000 for my brother in California to attend a techincal school. I have been informed that he now plans to file bankruptcy. Over the life of this loan I've been contacted a couple of times to make payments he was late on and did make them. My question is how his filing will affect me and my credit. I "warned him" that his actions shouldn't affect me and his bankruptcy attorney advised him this was the case; however I'm skeptical. Please advise! Thanks.


Asked on 5/25/00, 12:26 pm

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: Cosigner for someone who is filing

You are responsible to make payments if your brother does not. He can reaffirm the loan at bankruptcy and continue with payments or file under Ch. 13 and set forth a plan to pay the loan in full. Otherwise you are responsible.

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Answered on 7/06/00, 5:52 pm


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