Legal Question in Bankruptcy in Michigan

Co-signer affected by primary's Bankruptcy?

How will I as the co-signer on an education loan be affected if the borrower is filing for bankruptcy? Will my credit history be negatively effected? Please advise.


Asked on 7/24/07, 8:13 pm

1 Answer from Attorneys
Rochelle Guznack Law Offices of Rochelle E. Guznack, PLLC

Re: Co-signer affected by primary's Bankruptcy?

First of all, student loans are not usually dischargeable in bankruptcy. In a 13, there is a co-debtor stay of proceedings. You should have the borrower/debtor get the details from his/her attorney.

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Answered on 7/25/07, 11:51 am


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