I cosigned a loan for a fiance. We broke up. Two years later she has filed chapter 13. The credit union reports to transunion. My credit score has gone from 826 to 733 so far and looks as if it will continue to plummet. I called her attorneys office and a paralegal looking at her case said I should not be being asked to pay, which I'm not, but he said under the cosigner stay...it should not be reported to any credit bureau. Is this correct? He's going to send a letter to the bank and cc me on it and says they should remove all from my record . I love the sound of it, but true or false ?
Yes the fact that the other person filed a bankruptcy can be reported on your credit report. If she's paying the debt back in full, you are protected. Your credit score can be affected, and you can explain why to anyone when they pull your credit, that you didn't file bankruptcy. Hope that helps!
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