How is co-signed debt handled in a Chapter 13 Bankruptcy

If you have co-signed a loan for some one or if you had a friend or relative co-sign a loan for you, Chapter 13 bankruptcy gives you options on how to handle that debt. If the other person was supposed to be responsible for the loan but they didn't pay and now the creditor is coming after you, we can remove your name from the loan. If you borrowed the money but had to have someone co-sign the loan to be able to get it, we can structure your Chapter 13 plan to pay that loan and protect your co-signor. For information on co-signed debts in a Chapter 7, watch this video.

To be able to properly deal with a co-signed debt in a Chapter 13 bankruptcy, you need to make sure that you have an experienced bankruptcy attorney representing you and that you advise your attorney about the co-signed loan.

If you are facing financial problems and have co-signed loans, I can help. Contact me or call my office today at 757-320-2010 to schedule a free consultation on how bankruptcy can help you take control of your financial affairs.

Edrie Pfeiffer
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Edrie Pfeiffer, Bankruptcy & Divorce Attorney