What happens if I cosign for a friend who filed bankruptcy after? 9 Answers as of March 07, 2017

I got a line of credit for my friend. I am the cosigner. Now, he's not paying so I filed a civil suit. He informed me that he filed chapter 13 about year ago and his lawyer said he could add it to bankruptcy. Is there anything I can do?

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Stephens Gourley & Bywater | David A. Stephens
File a claim in his bankruptcy. If the debt is secured by something you could attempt to repossess it with bankruptcy court permission. Beyond that you are likely out of luck.
Answer Applies to: Nevada
Replied: 3/7/2017
Timothy Casey Theisen, P.A. | Tim Theisen
If it was a chapter 13, they had about four months to notify you. You are prevented from moving forward on the suit, but once the discharge goes through, you should be able to recommence the lawsuit, as long as you are not timely notified, because your claim will not be discharged. You should consult with a bankruptcy attorney for appropriate advice. You should not rely upon general statements in an online Q&A like this.
Answer Applies to: Minnesota
Replied: 3/7/2017
GARCIA & GONZALES, P.C. | Richard N. Gonzales
Without looking at his court file, it is impossible to advise you. Unfortunately, any lawyer worth their salt will charge you for the consultation.
Answer Applies to: Colorado
Replied: 3/7/2017
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Well, if you obtained the line of credit AFTER he filed for bankruptcy, that debt is not included in his bankruptcy and most likely violates the court order confirming his Chapter 13 Plan. If you obtained the line of credit BEFORE he filed for bankruptcy the debt should have been included in his Chapter 13 Plan and you should have been given notice of it. I suggest you see local counsel because you have remedies by virtue of the fact you were omitted from the list of people who are entitled to notice.
Answer Applies to: California
Replied: 3/7/2017
A Fresh Start
A Fresh Start | Dorothy G Bunce
File a claim in the chapter 13 and stop cosigning debts for others.
Answer Applies to: Nevada
Replied: 3/6/2017
    Mauritz Van Niekerk, Attorneys at Law
    Mauritz Van Niekerk, Attorneys at Law | Christiaan van Niekerk
    they will come after you so you might have to file bankruptcy also?
    Answer Applies to: New York
    Replied: 3/6/2017
    Garner Law Office
    Garner Law Office | Daniel Garner
    You have to make sure your claim gets filed with the court, and it might require the debtor's attorney to ask the court to accept it even though untimely. If the claim is not allowed, you should get an attorney because you can challenge the dischargeability of the debt.
    Answer Applies to: Oregon
    Replied: 3/3/2017
    The Orantes Law Firm
    The Orantes Law Firm | Giovanni Orantes
    Were you listed in the Chapter 13 bankruptcy petition? You should review the petition to see if you were or were not listed. If not listed, which you may not have been since you are saying the bankruptcy was filed about one year ago and you did not know about it, you might be able to file a proof of claim, which might entitle you to some payment, or an adversary proceeding for a ruling that your claim is nondischargeable because of the Debtor's failure to schedule it, etc. You should consult an attorney to protect your rights.
    Answer Applies to: California
    Replied: 3/3/2017
    Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
    While in general he could add you as a creditor to the BR, here may be exceptions, as in the case where you already relied on his not listing you (and hence you sued him) or you did not have notice of his BR-which you did not until recently. Retain a well-informed BR lawyer; it's almost always worth the investment.
    Answer Applies to: Wisconsin
    Replied: 3/3/2017
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