If I co-signed a loan for someone to buy a car and now, two years later, they (as in the person that who I co-signed for) decided to file for bankruptcy, Can the bank go after the co-signer for the remaining balance of the loan?
co-signed a car and impact on bankruptcy
posted by Questions @
1 Expert Comment:
At September 14, 2009 |
6:18 am
, Bart Goth, Trustee in Bankruptcy Said...
Yes, the filing of a bankruptcy can only release a person from debts that that individual has signed on, the personal bankruptcy of that individual has no ability to compromise something that is not in their name.
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