I'm not an attorney, but I seriously doubt it. What sense would that make?
As a cosigner, you are not at all protected if the primary signer files for bankruptcy. In many cases, filing for bankruptcy relieves the primary signer on the loan from his obligations towards the loan, at which point the lender will turn to the cosigner for payment. You'll either have to pay the loan or file for your own bankruptcy (if necessary).Unfortunately, you're stuck with the loan regardless of whether or not the primary signer successfully completes his bankruptcy filling. You may want to contact a bankruptcy lawyer for some additional advice or assistance.
No, the primary signer is still liable. But if a loan is not dischargeable, such as a student loan (actually is is extremely hard to discharge), both the primary and co-signer will STILL be liable after the bankruptcy
An auto cosigner, in the state of Indiana, has to meet all of the requirements of the contract. In most cases the cosigner has the same obligations as the primary signer.
If the account the cosigner is on is included in the bankruptcy it will appear on their credit report. In most cases the cosigner will not be relieved of the debt when the primary holder files for bankruptcy. The creditor(s) can then pursue the cosigner for the collection of money owed.
Only if the primary has said s/he will surrender the property in the bankruptcy and/or if the cosigner does not make the payments due.
The loan becomes at worst like a single-signer loan. You are free to refinance or pay it off. Which you were, anyway. The only entity affected by the bankruptcy of a cosigner on a loan is the lender.
A Co-signer is always responsible for the item unless the primary borrower refinances and removes the co-signer. Unfortunately if the primary borrower filed bankrupcy it doesn't seem likely they will be able to refinance. Yes. Cosigner means that if for ANY reason the main borrower cannot pay, cosigner will be responsible to pay.
No, unless the co-signer was also part of the bankruptcy process. If not, then no the co-signer would have to be responsible for this debt. Wanda Improve Credit, LLC
yes, unless the co-signer claims bankruptcy
The co-signer would then be liable.
By listing the creditor on the bankruptcy schedules.