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Bankruptcy Alberta

Archive for the ‘co signed debts’ Category

Co-signer on a Loan

Question: If I have a co-signer on a loan. and we both agree on bankruptcy, how will this effect the other person. the co signer

Answer: If both the co-signer and you are going bankrupt then the debt will be covered by the bankruptcy. However, if the co-signer is not filing a bankruptcy they will be responsible for payment of the entire debt in your place.

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