student loan co-signer

[ineedadvice]

thank you guys in advance for all your help. here's my situation: i filed for a chapter 7 bankruptcy recently and because my sister co-signed a student loan, she received a letter stating my situation. i have been and will continue to pay for this loan because i know it's non-dischargeable. my question is, will my bankruptcy affect her credit rating? she is looking to buy a house. my attorney assured me that me filing for bankruptcy will not affect her in anyway unless i default on my loan. also, if i was late in some of the loan payment, will that show up on her credit report? i just don't want to jeopardize her dream of buying a house because of my situation.

[HRx]

Hi,

As long as you didn't/don't list your student loan in your BK petition, her credit will not be affected.

[ineedadvice]

thanks for the reply,

my attorney said that i HAD to disclose all of my debts to the best of my knowledge when filing for bankruptcy, so my student loan is on the petition. he assured me that it would not affect her in anyway. i wanted a second opinion.

[DueProcess]

Second Opinions can be Good

Your attorney is mostly right ... You must schedule all debts, including student loans. It is possible that the creditor may report the BK on the co-signer's credit report; but that would be an error which should then be disputed.

[jasmitwalkar]

financial aid suspension

This situation sounds terrible, but please don't judge, since you do not know the extent of the circumstances. My boyfriend has bad credit; he also didn't do well in school last semester and was placed on financial aid suspension, so he has to get an outside loan. He really does not know what to do and neither do I. How can he find something that will work for him? If anyone can help, we would really appreciate it. Thanks.

[JRScott]

It should not appear on her credit report. She will probably need to pull her report once your case is finished and make sure it does not appear. If it does she'll need to contest it.