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What is the Impact of a Student Loan Cosigner's Bankruptcy

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  • 05-07-2012, 11:48 AM
    kateinfl
    What is the Impact of a Student Loan Cosigner's Bankruptcy
    My question involves bankruptcy in the state of: Florida

    My parents and I are each about to file bankruptcy (chapter 7). I have around $50,000 in student loans, co-signed by my dad, that have been defaulted on by both of us. From what I've read, it would be near impossible for me to get these loans discharged (apparently I still have hope to make a decent wage). But since these are co-signed by my dad, these would be included in their bankruptcy, yes? And, if by chance, the loans can be included and are indeed discharged, does that mean they're gone on my end, too?
  • 05-07-2012, 02:12 PM
    Disagreeable
    Re: Student Loans Cosigned by Parents- Does It Affect Me
    Nope. Just means dad is off the hook.
  • 05-08-2012, 10:30 PM
    Mr. Knowitall
    Re: What is the Impact of a Student Loan Cosigner's Bankruptcy
    Their bankruptcy has absolutely no impact on your obligation to repay your loans.
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