My co-signer is filing bankruptcy. Where does that leave me? 4 Answers as of November 19, 2010

My parents are filing for bankruptcy. They co-signed on a couple of my school loans. The status of the loans is currently in bankruptcy. I am unable to make payments. Will I still owe the balance?

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George Hoselton Bankruptcy Attorney
George Hoselton Bankruptcy Attorney | George Hoselton
Yes. Their bankruptcy has nothing to do with your obligation to pay those loans. You must continue to pay these student loans. They are NOT dischargeable in bankruptcy. You must pay them until you die.
Answer Applies to: Oregon
Replied: 11/19/2010
Greifendorff Law Offices, PC
Greifendorff Law Offices, PC | Christine Wilton
It leaves you responsible for the debt. Also, generally, student loans are not discharged in bankruptcy. Yes, you will still owe the balance.
Answer Applies to: California
Replied: 11/19/2010
Law Offices of Michael J. Berger
Law Offices of Michael J. Berger | Michael J. Berger
Yes, you will still owe the balance.
Answer Applies to: California
Replied: 11/18/2010
The Law Office of Mark J. Markus
The Law Office of Mark J. Markus | Mark Markus
Yes. Their filing bankruptcy does not affect your liability on any debts. Aside from that, student loans are not dischargeable in bankruptcy anyway.
Answer Applies to: California
Replied: 11/18/2010
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