Legal Question in Bankruptcy in California

I cosigner for a relative about 5 years ago and he skipped town. I wanted to file for bankruptcy because the amount is more than 60,000.00. Should I file for bankruptcy...? Or if I leave it alone would it just affect my credit...?

Asked on 4/07/17, 11:13 am

1 Answer from Attorneys

Mark Markus Law Office of Mark J. Markus

If you co-signed for a loan, then the lender can sue you and get a judgment which they can then enforce by garnishing your wages, seizing your bank accounts, and placing liens against any property you own.

Bankruptcy is an option you should consider. Whether it is your best option can only be determined after a comprehensive consultation with an experienced bankruptcy attorney.

I offer free initial consultations if you are interested in learning about your options.

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Answered on 4/09/17, 10:38 pm

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