Legal Question in Bankruptcy in Ohio
Bankruptcy and co-signers rights
Is a co-signer afforded any protection when a debtor files for ch. 7 or ch. 13 bankruptcy? Do you have a sample of such a motion? What statue applies? Thanks.
Asked on 10/04/00, 11:27 am
1 Answer from Attorneys
Rick Sommer
Law Offices of Rick J. Sommer
Re: Bankruptcy and co-signers rights
Generally speaking, if you are discharged from a debt under Chapter 7, a co-signer to that debt will become liable for the debt. A Chapter 13 filing will delay any action against your co-signer to give time to get your Chapter 13 plan together. This is intended as general information only, not legal advice. We have no attorney-client relationship. I suggest retaining an attorney to counsel you regarding any plans for bankruptcy.
Answered on 11/01/00, 11:14 pm
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