Legal Question in Credit and Debt Law in New York

I'm sorry to bear bad tidings, but you co-signed the loan and you did so of your own free will. That makes you just as responsible to pay the loan as she is. This is an expensive lesson for you that you must not co-sign loans.

If you want to save your credit, you must do one of two things: 1. get the creditor to release you from the loan (that's not likely to happen, since she doesn't pay regularly) or 2. make payments on the loan. To get out of the loan, your sole option (if the creditor refuses to release you, and it is very likely that they will refuse to release you) is to file for bankruptcy yourself. Bankruptcy has lots of ramifications and lots of pitfalls, so you should absolutely consult an attorney to determine if this is indeed the course you should follow at this time. You're welcome to call my office (518-371-4599) to set up a free 15-minute phone consultation.

You say she filed for bankruptcy protection. The timing of that bankruptcy filing in relation to her promises to you is important in determining your rights, as is the manner in which this loan was listed in the petition, as is the chapter of the bankruptcy code under which she filed. None of this information do I have, which makes answering your question as to what you can do about this deadbeat ex ... um ... difficult.

Can they take her tax return to pay the loan? Not without a money judgment, and with a bankruptcy in the picture it's not likely that a good money judgment exists (the judgment may exist, but the bankruptcy prevents the creditor from being able to collect, which means no garnishment of taxes or wages is forthcoming).

Next time, don't co-sign anyone's loan.

THIS POST CONTAINS GENERAL INFORMATION AND IS INTENDED FOR ENTERTAINMENT PURPOSES ONLY. IT DOES NOT CONSTITUTE LEGAL ADVICE, NOR DOES IT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP. FOR LEGAL ADVICE ON YOUR PARTICULAR MATTER, CONSULT YOUR ATTORNEY.