What happens to the person or persons that co-signed loans for me. Does my bankruptcy affect their credit?
Bankruptcy Alberta: Free Information about Bankruptcy in Alberta
What happens to the person or persons that co-signed loans for me. Does my bankruptcy affect their credit?
The co-signer remains fully responsible for whatever they have signed on. Essentially they have verified that regardless of whatever happens to you (death, bankruptcy…) they will ensure that the debt is satisfied in full. So when you are in bankruptcy they need to arrange to make payments with the bank.