Legal Question in Bankruptcy in Michigan

co-signer responsibility when filing bankruptcy

I have a manufactured home which was purchased in my name, but that my father co-signed on. Can I file bankruptcy, erasing responsibility of this debt for both my father and myself without affecting my fathers credit in any way?


Asked on 2/11/06, 11:17 am

1 Answer from Attorneys
Rochelle Guznack Law Offices of Rochelle E. Guznack, PLLC

Re: co-signer responsibility when filing bankruptcy

If you do not pay or are relieved of the debt through bankruptcy, your father becomes solely responsible. However, you may want to look into a Chapter 13 where there is a possibility, depending on your income, of paying back that debt in full while making a payment that is a percentage of the debt to your other creditors over 60 months.

Please feel free to contact me for more information at 2486791552.

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Answered on 2/13/06, 8:10 am


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