Bankruptcy and co-signers
Date: Wed, 03/25/2009 - 09:13
Bankruptcy and co-signers
If my parents co-signed for a student loan for me and I file bankruptcy, what affect would this have on their credit rating?
It depends.....BK could cause the loan to go into default so you
It depends.....BK could cause the loan to go into default so you could have a whole other mess once the BK is discharged. You both would be looking at accelerated collection activity. Talk to your lender as to what to expect after discharge.
