My brother bought some atvs and i co-signed for him. Will he be affected???
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If you stop paying, he's on the hook for the entire balance. -
I believe that applies if he had co-signed for you. But since you co-signed for him...as long as he keeps paying, I'm not sure why it would effect him at all.Filed BK (Ch. 7) 6/2/08
Discharged!! 9/24/08
Closed..the end! 10/1/08
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When you cosign, you are gauranteeing the loan. It is not your loan unless he stopped paying on it. Then they come after you. If you C7, and he pays it won't hurt him. I am not sure you would list it in your papers. Ask you attorney, but I think you would in some way. 'HubIf I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.Comment
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I believe you're right, Hub..she has to list him in order to protect herself from his possibly defaulting on the loan in the future.Filed BK (Ch. 7) 6/2/08
Discharged!! 9/24/08
Closed..the end! 10/1/08Comment
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