2007-09-22 11:47:22 · 5 answers · asked by roni r 1 in Business & Finance ➔ Personal Finance
In bankruptcy you have the ability to reaffirm debts if authorized through the trustee and agreed to by the original creditor. Most creditors look to having the account brought current in order to agree to a re-affirmation.
If this is something you could do, it would greatly benefit your co-borrower. As stated, if your legal responsibility for the debt is discharged through bankruptcy then the other individual will be solely liable.
2007-09-25 07:01:58 · answer #1 · answered by haggamuffn 2 · 0⤊ 0⤋
I had the unfortunate need to declare bankruptcy 4 years ago and did alot of research on it. I was single but I believe if your name is on something, even jointly, it has to be at least declared as an asset. You can get a good amount of information from these sites-nolo.com and freeadvice.com(although the 2nd site is only a forum but good for seeing others experiences and questions or posing your own-just be prepared for some who have nothing better to do with their time than criticize others, but there are also many other very helpful people)
2007-09-22 19:04:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You can file for bankruptcy under just your name. But the person who is co-signed to any of your accounts will be fully responsible for the debts.
2007-09-22 19:39:25 · answer #3 · answered by Anonymous · 1⤊ 0⤋
You have to include everything. You don't get to choose which debts.
Your responsibility for joint debts will be discharged but the other person on the joint account will have to pay.
2007-09-22 21:09:48 · answer #4 · answered by bdancer222 7 · 0⤊ 0⤋
I think you can with name only.
2007-09-22 18:54:21 · answer #5 · answered by Anonymous · 0⤊ 0⤋