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Do I have to list a loan that I co-signed for on my bankruptcy petition

Asked over 3 years ago - Tell City, IN

I would like to file for bankruptcy because I am about $40,000 in debt but I co-signed on a loan a few years ago. Do I have to list that debt even though I have never made any payments. The person who has the vehivle loan has always paid on time and has great credit. If I did have to list it I would still want to have it as a debt I would keep. I also do not want this to go against his credit.

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Attorney answers (1)

Margery Ellen Golant

Reputation Level 18

Answered over 3 years ago. Bankruptcy Attorney in Boca Raton, FL.

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You are required to list all debts for which you are obligated as signer or co-signer. However, you do also have the option to reaffirm specific debts, which means that as to the reaffirmed debts, you are asking the bankruptcy court not to discharge it, so it stays in place.

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