Legal Question in Bankruptcy in New Jersey
If a student files chapter 11 and has student loans can the lender look to the gaurantors of the loan for payment of the loans?
Asked on 8/17/12, 7:32 am
1 Answer from Attorneys
Paul Riviere
Riviere Cresci & Singer LLC
Chapter 13 extends that stay to any cosigners, at least for "consumer" loans (personal, family, or household debt; not business loans). During the duration of the temporary stay, creditors cannot go after the cosigner. Also, whatever payments will be made under the plan will be credited against the cosigner�s obligation, reducing what he or she might have to pay. If you have any question feel free to call us or visit our website: www.64njlaw.com or (732) 64-NJLAW
Answered on 8/17/12, 7:43 am
Related Questions & Answers
-
My bank is offering to issue a "full forgiveness"of a debt on a Home... Asked 8/10/12, 12:29 pm in United States New Jersey Bankruptcy Law
-
I have filed for chapter 13 Bankruptcy and am being sued in a civil case for... Asked 7/15/12, 6:39 pm in United States New Jersey Bankruptcy Law
-
Can sexual harassment be discharged by filing bankruptcy Asked 5/30/12, 5:34 am in United States New Jersey Bankruptcy Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
