Legal Question in Bankruptcy in New York
my mother co-signed for a young lady for school and now my mother is stuck paying the bill mund you the girl took many loans out after what kind of attorney can help my other out in this situation
Asked on 7/29/10, 1:25 pm
1 Answer from Attorneys
Michael Fakhoury
Law Offices Michael Fakhoury
If you mother co-signed for a federally subsidized school loan, then the debt is not dischargeable in a Bankruptcy Petition. In other words, your mother will be stuck with the loan. If the loan was a tuition bill or other unsecured loan, then your mother can discharge the debt (have the loan forgiven) in a Bankruptcy Petition.
Answered on 8/03/10, 3:21 pm
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