Will a co-signer be affected by a bankruptcy filing?

by DeLadurantey Law Office, LLC on February 5, 2010

Many people use co-signers to help secure a loan. In most cases, the co-signer is responsible for part or all of the debt obligation if the debtor fails to pay.

When debtors file for bankruptcy, co-signers may be responsible for repaying the debt. However, co-signers may be protected if the debtor files for Chapter 13 bankruptcy.

If you or anyone you know has questions about a bankruptcy filing, contact the Milwaukee bankruptcy lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518.

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