Can my friend be able to file for bankruptcy after 5 or 6 years? 17 Answers as of July 04, 2013I am going to file bankruptcy, and my friend is a borrower on my second mtg. Will he then be responsible for that debt? If so can he still file bankruptcy if he has filed in the past? ( I think its been five or six years )
Mercado & Hartung, PLLC | Christopher J. Mercado
He will be scheduled as a co-debtor on your Bankruptcy and can be looked to for the debt. He can file a Chapter 7 only if it's been 8 years from the date of discharge, or a Chanel 13 if it's been 4 years from the date of discharge .
Answer Applies to: Washington
Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
Chapter 7 bankruptcy, for those who qualify, can be filed every eight years.
Answer Applies to: Indiana
Colorado Legal Solutions | Stephen Harkess
If your friend is a cosigner on a debt that you owe then he will be held responsible if you file bankruptcy and do not pay the debt. He cannot file a Chapter 7 case if he has received a discharge in a case filed within the past 8 years, but he could file under Chapter 13.
Answer Applies to: Colorado
Law Office of Asaph Abrams | Asaph Abrams
A codebtor's bankruptcy does not eliminate the other codebtor's liability insofar as the debt is not paid off in the bankruptcy. For information on repeat filings, see: http://www.bankonitsd.com/Bankruptcy_FAQ_general_second.html
Answer Applies to: California
Law Offices of Alexzander C. J. Adams, P.C. | Alexzander Adams
Yes. Your friend may be limited on the chapter he has to file under given the recent bankruptcy. If his previous bankruptcy was a Ch 7, your friend will have to file under Ch13. If the previous bankruptcy was a Chapter 13, your friend is able to file under either chapter (at least in terms timing). Your friend will still have to pass the means test to file under Ch 7.
Answer Applies to: Oregon