Can I Protect My Cosigners?

by Paul R. Tom Basic Bankruptcy Information, Myths and FAQs

A Chapter 7 bankruptcy releases you from your debts, but does not release your cosigners. Your creditors will demand payment from them if you don’t pay. Lenders want cosigners so that they will have someone else to pursue if you fail to make payments or discharge the debt in bankruptcy. One way to protect your cosigners is to continue to … Read More