Can I file for Chapter 13 bankruptcy?

The purpose of Chapter 13 is to take obligations which are or could be the subject of collection action and put them into a repayment plan that, if approved by the court, stops collection while the repayment plan plays out. So, the people to file the Chapter 13 would have to be the debtors who are obligated for the loan.

However, before you do anything, you need to speak with an attorney who is a bankruptcy specialist. It is critical to understand that the process of bankruptcy, as well as the decision of whether or not to file, is complex, and requires a clear understanding of the interaction of many moving parts. People are allowed by law to do this without an attorney, however it is a very serious mistake. Please consult a knowledgeable local bankruptcy attorney and discuss all the details of your situation before making any decision.