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What About Co-signers?

If someone has co-signed a loan with you and your file for Chapter 7 bankruptcy, the co-signer may have to pay your debt. If you file a chapter 13, however, and the debt is a consumer (non-business) debt, you will be able to protect Co-signers from any collection efforts if you provide for full repayment of the debt which they co-signed with interest, and if you make all payments due under your plan so that the debt is paid in full. Otherwise, creditors may once again pursue the Co-signer.


 
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