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Question:

 

Hi, my husband has been off work with a broken leg and ankle. We are not sure when he is going to be back to work. We are trying to sell our house with no luck. We have a cosigner on the loan and would like to know if this will affect him if we go bankrupt? We have a debt management plan also that we are behind in.



From:

 


Grant Thornton Limited

Date:

 

Aug 02, 2017

Answer:

 

Hello Coleen, thank you for your question.If you have a co-signer on your unsecured debt, it would be their responsibility to pay that debt if you were to file a bankruptcy. With that said, any secured debts (vehicle, house) may not be affected in a filing. So they may not affect the co-signer.We would be happy to explore more options with you and discuss your situation in more detail through one of our free consultations. This can be booked through our toll free number 310-6060. Kaitlin

Grant Thornton Limited
T 310-6060
askanexpert@ca.gt.com

 

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