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If your estranged spouse files bankruptcy and you cosigned should you make payment arrangement file bankruptcy or wait for SOL to expire?


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Wiki User
2015-07-15 19:39:43
2015-07-15 19:39:43

Thats a decision YOU have to make. Please consider the effects on your credit for each choice. Having to make that decision is a result of not considering it b4 you cosigned. Good Luck

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Yes. in support with your bankruptcy lawyers experts.

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That decision is made by the lender not the bankruptcy court.

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Yes. You can file BK. The lender will then go after the co-signer for payment. In other words, the co-signer learns why the lender required a co-signer in the first place.

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A judgment is final and does not change. The creditor was awarded and filing bankruptcy is a different issue. Also state laws vary. A petition in bankruptcy lists the debtor's assets, liabilities, and debts so that a realistic arrangement for the payment of creditors can be devised.


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