If my co-signor filed Chapter 7, do I still owe on the loan as the primary lender
Richardson, TX
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Posted 12 months ago in Bankruptcy / Chapter 7
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CHAPTER 7:
IF A CO SIGNER FILES CHAPTER 7 IN CA DO I STILL OWE THE LOAN
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Answers (1)William J. Dyer
This attorney is licensed in Texas.
Posted 12 months ago.
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I think you probably meant to say "primary borrower," didn't you?
If I understand your question correctly, the answer is "Yes, you still owe on the loan as the primary borrower." The fact that someone who co-signed the loan with you has gone through bankruptcy may affect or even extinguish HIS obligation. It doesn't relieve you of yours. |