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    rr man's Avatar
    rr man Posts: 92, Reputation: 1
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    #1

    Aug 10, 2008, 05:24 PM
    How is a cosigner affected when a person files bankruptcy?
    Several years my son-in-law purchased a piece of property with a 10 year mortgage. I cosigned for him, and so far he has made his payments on time. However, he is mired up with credit card debt and considering bankruptcy. My question is if he does file for bankruptcy will it affect my own credit standing and credit score? I have impeccable credit and want to keep it that way. Thanks for any advice.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Aug 10, 2008, 07:09 PM
    As long as you take over making payments or as long as he re-affirms this debt and he keeps making payments it will have no effect on your creidt.
    But someone will have to keep paying on this
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