Legal Question in Bankruptcy in South Carolina

Bankruptcy

If i file can i claim items that have a co-signer on them with me or would the co-signer have to file as well?


Asked on 5/16/07, 9:32 am

1 Answer from Attorneys
Sheryl Schelin Law Office of Sheryl Schelin

Re: Bankruptcy

No, your co-signer does not have to file bankruptcy in order for the debt to be discharged. However, remember that the bankruptcy discharge only affects personal liability - it would not extinguish the debt as against your cosigner, nor would it extinguish the creditor's rights against any collateral for secured loans.

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Answered on 5/16/07, 10:02 am


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