Legal Question in Bankruptcy in New York
Co signers what happens?
I want to declare bankruptcy, but I have a loan that was co signed by my parents. I really need to clear all of my debt, but I don't want anything to happen to their credit history. What will happen to them if I declare bankruptcy on that loan?
Asked on 10/02/99, 2:01 pm
1 Answer from Attorneys
Daniel Press
Chung & Press, P.C.
Re: Co signers what happens?
Your parents remain liable. Their credit will not be damaged if they pay the debt.
Answered on 10/05/99, 9:51 pm
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