Legal Question in Bankruptcy in West Virginia

bankruptcy questions

I have a few questions in regards to declaring bankruptcy. First, if I have a cosigner to a past loan, how will they be affected if I decide to file?

Second, are past student loans by private lenders dismissed? Thirdly, if I were to marry, would my spouse's credit be affected? Thanks.


Asked on 1/13/01, 3:54 pm

1 Answer from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: bankruptcy questions

1. The cosigner will remain liable after you file bankruptcy. If you stop making payments on the loan, the creditor will likely go after the cosigner.

2. If the plan is not funded or administered in by a non-profit or government entity, it should be dischargeable. See recent cases on this on my webpage at http://www.bklaw.com/chapter7doc.htm

3. That depends if you marry before or after you file bankruptcy. To the extent you rely on joint credit, your spouse's joint credit may be affected. His/her personal credit would not be affected.

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Answered on 1/30/01, 1:01 am


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