i co-signed on a car , an apartment for my son. i also had his cell phone, i also let him use a credit card which he never paid and various other bills, he has wiped my savings and now he is in jail for DUI, now the bills are coming in, i cannot pay them. what can i do
You can certainly file for protection under the bankruptcy code. A consigner on a loan or account is as liable for the obligations as the account owner. Depending on the amount due and the willingness of the companies to compromise the debt, you could either file for bankruptcy or seek credit counselling from a not for profit credit councilling service.
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