Tag Archives: co-signed loan

How To Deal With Joint Debts: Together, or Separately
By Scott Schaefer, Trustee
09 Oct 2015 | Category: Debts In Bankruptcy | (2) comments
joint debts

There are many reasons why someone would have joint, cosigned or guaranteed debts. Both parties are responsible for the debt if they have both signed for it.  That means that if one of the joint debtors does not pay, the other joint debtor is still responsible to pay off the debt. …

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How Is Student Debt Affected During Bankruptcy?
By Scott Schaefer, Trustee
27 Feb 2015 | Category: Debts In Bankruptcy | Leave a comment
Student-loans-bankruptcy

You accumulated significant debt while attending college or university with the full expectation that you would be able to repay that debt. Now you are struggling to keep up with your payments. Filing bankruptcy or a consumer proposal may be an option, however, there are some things you need to know…

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Co-signers Responsibility in a Bankruptcy Filing in Ontario
By Bankruptcy Ontario Trustee
19 Jan 2010 | Category: Debts In Bankruptcy
co-sign debt

Question: My friend co signed on a line of credit for her friend who is about to file for personal bankruptcy. My question is what portion of the line of credit is she responsible for? Will she be responsible for the entire line of credit? How will this affect her…

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