When you’re considering bankruptcy, you may not be aware of how it could affect a friend, or family member who is the cosigner for one, or more of your debt accounts.
An Elbert County bankruptcy lawyer can explain that a chapter 7 bankruptcy for instance, will discharge some of your debts, meaning that you will no longer be responsible for paying them off. But, since a cosigner has legally taken on the responsibility of that debt, your Elbert County bankruptcy lawyer will advise that a co-debtor can still be held accountable.