Is a co-signer still responsible if bankruptcy is filed? 18 Answers as of August 25, 2015

My niece co-signed on a loan for her 85 year old father. If he files bankruptcy is she still legally responsible for the debt?

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Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Yes. This is why lenders require co-signers. So they a second person to go after.
Answer Applies to: California
Replied: 7/27/2015
Cohen & Kendziorra, P.A.
Cohen & Kendziorra, P.A. | Robert S. Cohen
Yes, she is responsible on the debt.
Answer Applies to: Florida
Replied: 7/24/2015
Stuart Jon Bierman  Attorney at Law
Stuart Jon Bierman Attorney at Law | Stuart Jon Bierman
Usually, the answer is: yes. The father who filed for bankruptcy would not have to make payments on the loan but the co-signor would still be liable on the loan.
Answer Applies to: New Jersey
Replied: 7/23/2015
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
That would be a yes.
Answer Applies to: Colorado
Replied: 8/25/2015
Eranthe Law Firm
Eranthe Law Firm | Cate Eranthe
Yes; unless he filed a Chapter 13 bankruptcy, then there is a co-debtor stay. That is what a co-signer is. If he can't pay the debt then she is liable for it. If she also files a bankruptcy then she may not have to pay it.
Answer Applies to: California
Replied: 7/23/2015
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