If a person files bankruptcy chapter 7 and has a co-signer, is the co-signer responsible for the loan if the debt is discharged?
-- Anonymous
A.
A cosigner is equally liable with the primary debtor for the cosigned debt. If for any reason the primary obligor doesn't pay, the cosigner may be sued for the balance.
The bankruptcy discharge protects only the person who files bankruptcy, so when a discharge is granted, the cosigner can expect to hear from the creditor, unless the debtor chooses to continue paying.
