What happens when a cosigner files bankruptcy?
Tags: bankruptcy
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on Saturday, April 10th, 2010 at 12:57 pm and is filed under Bankruptcy Files.
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April 10th, 2010 at 12:57 pm
That won’t affect your credit at all. The lender may squirm a bit but as long as you keep current on your obligations you won’t have any problems.
Do NOT refinance the loan unless you can get a rate at least as good as what you currently have! (And don’t let the lender try to bully you into anything!)
April 10th, 2010 at 12:57 pm
Call and ask your lender to make sure, but if your cosigner is the one filing, it shouldn’t affect your credit at all. Just keep making the payments on time.