How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask WALLSTREETESQ Your Own Question
WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17252
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
16356563
Type Your Bankruptcy Law Question Here...
WALLSTREETESQ is online now
A new question is answered every 9 seconds

I filed for Bankruptcy two years ago for a home loan it was

This answer was rated:

I filed for Bankruptcy two years ago for a home loan it was settled. I had a cosigner now the creditors are after him. what can he do to protect himself? what could I do.

WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on

WALLSTREETESQ :

This is a common situation,

WALLSTREETESQ :

Unless you can contact the lender and create some payment plan for the debt, the cosigner is legally obligated to pay your debts.

WALLSTREETESQ :

The cosigner could file a bankruptcy, or should consider contacting the lender and try to work out a settlement with them, and you could pay your friend to amount.

Customer: replied 4 years ago.

Will bankruptcy in this case lessen the dept I would have to pay.

If he threatens a bankruptcy they may settle with him, if you filed a bankruptcy two years age the loan should have been discharged, and you would not be liable.
WALLSTREETESQ and 2 other Bankruptcy Law Specialists are ready to help you