Todd or HHM, Please help. (Cosigner of student loan)

[oneosu]

[hhou812hh]

I know the lawyers know more then we do but this does sound crazy. I really don't think the it will have an affect on your daughter. Usually things like bankruptcies are between YOU & your CREDITORS. They can't possible report anything negetive to your daughters report. It's probably too late now since you filed, but I would certainly have gotten a 2nd opinion on this one from another lawyer. From all my research on this subject you are only liable if she can't repay it. If that was the case the loan would shift to you as being responsable.

I'm anxous to see what Todd or HHM say about this.

Good luck to ya!!!!

[hhou812hh]

Any ideas anyone/ I'm anxous to know about this too.

[Lightning]

The account will show up on your daughter's credit report as "Included In Bankruptcy". This is accurate since the account is, in fact, being included in your bankruptcy. I do not know the exact effect it will have your daughter's credit rating, but I would think it must affect her somehow.

She couldn't qualify for the loan herself, so she added you as the cosigner. Now, you're filing bankruptcy which means the bank is left with the sole debtor as one who was not previously seen as a good credit risk.

[HHM]

Well, to head off any negative effect, you daughter can include a consumer statement in her credit report explaining the situation.

[HRx]

Under circumstances like this............most folks simply forget to list a particular account in thier BK. This one particular credit gig, wont be the end of the world either. Your daughter can request that a specific comment be made on this account tradeline too.