Forum Rules (Everyone Must Read!!!) (updated: 04/28/2015)

Welcome to the Bankruptcy Forum. Bankruptcy (BK) Forum is known as and will be referred to as BKF hereinafter. In order to ensure a long term success of our vibrant community, we have established certain rules and guidelines to which everyone must adhere to. Please take your time to carefully read our rules, before you start to participate in the community.

Things you agree to do: (BKF) users agree to use the search function before starting a new thread. This prevents duplicate discussions and allows for better organized topics.

All BKF users agree to read the sticky posts which may be available at the top of a forum page. These Sticky posts often contain valuable information. They may also outline more rules and guidelines specific for that particular forum, stickies are put in place by that forums moderator(s) or admin(s).

Things you agree not to do:

All BKF users agree not to call people names or write a post simply to make a personal attack, or get a negative reaction; this behavior is not allowed on our forum. The use of derogatory language aimed at anyone will be severely dealt with. There is no need to agree with each other, or to even like each other. However, by signing onto you agree to treat each member and guest with the respect they deserve. No threats or personal attacks will be allowed.

All BKF users agree not to discuss, engage, or encourage any behavior or activity which violates the law. Discussion of drugs, violence, murder, theft, vandalism, fraud or any other issue which could be used to help individuals break the law is strictly forbidden.

All BKF users agree not to "bump" old threads, unless there is a specific benefit to the community by doing so. But in most cases, please don't post in very old threads, instead start new threads.

All BKF users agree not to attempt/use another members account. It is against BKF rules to use any account other than your own. Impersonating another member will result in an immediate ban. It is also against the rules to open more than one account in your own name without permission from a moderator or administrator. If you have been banned for any reason, it is against the rules to open another account. If you were banned temporarily and you are caught using another account you will be banned permanently. Choosing a moniker which is similar in either sound or spelling as a moderator or administrator is strictly forbidden.

All BKF users agree not to private message any moderator, admin, or other member with questions related to their personal circumstances (Questions about the forum or issues with the forum are ok). This forum only works when members share their experience and insights with everyone.

Things you agree not to post:
All BKF users agree not to post any derogatory/racist/or sexist remarks. This includes attachments, links and all information contained within posts, signatures, and avatars, failure to comply with this rule will result in a permanent ban.

All BKF users agree not to post any copyrighted or trademarked information without the express written permission of the owner(s) / proper citation of source.

All BKF users agree not to post any real names, addresses, telephone numbers, email addresses, social security numbers, or any other personal details (their own or other people's).

All BKF users agree not to post links, pictures, attachments, videos, or the like of pornographic content, objectionable material or extreme violence, whether cartoon or real.

All BKF users agree not to use BKF for advertising purposes without a written contract between yourself/company/agent and the administration of BKF. Blatant advertising will result in a ban.

All BKF users agree not to spam the forums. Spam includes but is not limited to posting erroneous, non-relevant-useless, off-topic, or meaningless posts. Spam may also include posts which contain no text, or large areas of blank space between lines. Simply posting emoticons without text is considered spam. BKF is the largest bankruptcy message board and all the content is intended to help other users. Please help us improve the quality of our forum by making sure that your posts are well-worded, spell checked, grammatically correct and syntaxed.

Regarding actions of moderators and administrators:

The forum is no place to air out your opinion or be judgmental of our staff and its capabilities.

All BKF users agree not to abuse or mistreat moderators or administrators. It is against BKF rules to post any information regarding bans or any other action taken by a member of the moderating or administrative team. If you wish to discuss bans or warnings please do so via PM. To place a complaint against a moderator, send a PM to a super moderator. All Moderators are equal, any decision made by a moderator must be adhered to. If a moderator tells you something you do not like, do not go to another moderator looking for a different answer. If you are caught doing this you will be banned. The moderators work as a team and respect the decisions made by their peers and will help enforce them unless an administrator tells them differently.
If you have an issue with how the forum is run, then notify one of our administrator and we will look into the situation. We have in the past and still do appreciate any input that you offer this forum. But critical input and/or judgmental postings towards the staff will result in you getting banned.

Should you find a thread offensive or out of line, then notify a Mod in a PM so they can evaluate the situation and do the action deemed necessary.

All moderators do have active "other" lives outside of the forum and help moderate this forum in their spare time throughout the days and weeks.

If you have a problem with a member or Mod follow the proper channels of reporting it.

BKF reserves the right to delete any posts which contain anti-BKF comments or discussion. Any bashing of moderators or administrators, or any of their discussion or actions will also be deleted, and the responsible posting party(s) will be banned. Any public anti-BKF advertising, communication, or posts on another forum will result in permanent bans as well.

All warnings and bans are decided by individual moderators and administrators. Warnings are preferable to bans however, for serious offenses and repeat abusers bans will go into effect. The length of the bans can vary from several hours to permanent.

All messages posted or sent including through PM are the property of

All BKF users agree not to advertiser on the forum (Niether by posting, private messaging or using your signature). If you are a company/attorney/legal adviser wishing to advertise on the site or sell a product, you must contact the head administrator and inquire about our advertising packages.

All bankruptcy related opinions expressed on are those of their authors and not necessarily of BKF, its staff or representatives.

You agree not to copy any material/post/content from BKF without written permission from our head administrator .

By posting on this forum you agree to these terms and conditions, including any punishment deemed appropriate by moderators or administrators in the event of an offense.

Administrators/Moderators can change these rules at any time without prior notice.
See more
See less

Cosign loan for child after bk

  • Filter
  • Time
  • Show
Clear All
new posts

  • Cosign loan for child after bk

    Is it possible to cosign student loan for daughter starting college next year after I got ch7 discharge just last October?

  • #2
    Don't do it even if you can. I did for my daughter and wish that I didn't, she is paying them. I can't wait to get them out of my name another year of on time payments by her and that will happen it just takes the burden off us.

    I also thought I read somewhere that if your filed BK you can not co-sign and that will free up federal money for her to go to college.

    Last edited by pamkev; 09-17-2013, 04:43 AM.


    • #3
      You just got out of BK and why would you put your first step to repeat debt by assuming a loan for another person? I don't care who it is. I signed for a friend and owned that loan and lost that friend. Don't do the same stupid thing I did. If you have a creditor, you have someone else owning a piece of your life. You are finally free, so stay that way. Credit sells your future. Don't use it. 'Hub
      If 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.


      • #4
        It is probably possible to cosign, however if you do, be prepared to pay the loan back yourself. Not saying that your daughter will not pay it back, but you don't want to ever have family problems over a loan.
        All information contained in this post is for informational and amusement purposes only.
        Bankruptcy is a process, not an event.......


        • #5
          I understand as a parent you feel responsible for, and want to help with your daughter's education. We can't always do for our children everything we would like. Make an appointment with the school's financial aid office and explore ways to finance her education without you as a co-signer. It can be done. Help with cash where and when you can. Help with planning and budgeting advice. You will be passing on to your daughter valuable info about financial responsibilty. You are recovering from bankruptcy. Co-signing is digging yourself in deeper before you've had the chance to bounce back. If you make the difficult decision to NOT co-sign now, you will be doing the right thing for your own financial recovery, and hopefully, will be in better shape down the road to provide help in the future.


          • #6
            Jf24, you are just in the beginning of financial recovery for yourself. I know you wish to do and provide for your daughter, but NOW is the time to show her what financial responsibility is. She certainly knows that you are in BK, and she should respect that. She needs to work for a while and save up some money. She may have to go to school part time and work part time. She can apply for grants. If she is looking to go to an expensive out of state school, she needs a reality check and go to an In-state school. There are many ways it can be done.

            A very wise man offered this opinion:

            Don't handicap your children by making their lives easy.

            Robert A. Heinlein
            "To go bravely forward is to invite a miracle."

            "Worry is the darkroom where negatives are formed."


            • #7
              I would sooner take poison than cosign a loan for ANYONE, even a regular kind of loan such as a credit card or car loan. At least with a regular loan, you could rid yourself of the debt in bankruptcy if that becomes necessary. Student loan debt will follow you to the grave, and the government (or private guarantor organization) can even garnish your Social Security and other retirement funds!

              I suggest you tell your daughter that unfortunately, you don't feel comfortable cosigning for any student loans, and that she needs to apply for financial aid on her own. It is possible that she will have to wait a certain number of years to go to college in order to be treated as "independent" from you. I remember when I graduated from high school, I could not afford to go to college without taking on crippling student loan debt--which I refused to do--because my parents were considered too "wealthy" for me to qualify for financial aid, but not willing to impoverish themselves to pay for my education (not that I blame them). So instead, I went to work, and didn't go to college until much later, when I lost my job in the economic collapse. I was 29 at the time, and I was able to qualify for need-based financial aid which pays almost all of the tuition and fees.

              I believe that after your daughter is 25 years old, she can apply for financial aid based solely on her income and assets, and without disclosing any information about her parents. As an added benefit of going to college at an older age, she will be more mature, and more focused on her studies, rather than drinking, partying, and having fun.


              • #8
                you would still apply for the loan and then get denied. once you are denied your daughter takes that denial and then can apply on her own and it will or usually works just fine to get her student loans.

                while your name may not be on the loan itself, that doesn't mean you can't help her with the payments
                8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! and all are welcome to bk forum's Florida State Questions and Answers on BK


                • #9
                  We are in a Chap 13. Our youngest son is in his second year of college. Last year they wanted us to take out a PLUS loan for his tuition. We told him we are not allowed to take on any credit while in BK. The school asked for a copy of our BK papers and a letter from our attorney indicating that and then and that was it. After that, they allowed our son to take out an additional loan on his own.

                  I want to point out that years ago we co-signed a student loan for our daughter. It was the worst thing we ever did financially. It never got paid and we ended paying it ourselves ($15,000). It was at the beginning of our financial slide and our relationship took years to recover. Our son knows that we would not co-sign for him even if we were allowed to. I completely agree with AC.

                  Don't handicap your children by making their lives easy!
                  Filed Ch 13 Feb 9, 2012, 341 meeting Mar 15, 2012, Confirmed Apr 5, 2012
                  Anticipated freedom party Apr 2015


                  • #10
                    Originally posted by tobee43 View Post
                    you would still apply for the loan and then get denied. once you are denied your daughter takes that denial and then can apply on her own and it will or usually works just fine to get her student loans.

                    while your name may not be on the loan itself, that doesn't mean you can't help her with the payments
                    Actually that is a pretty brilliant move. Not only is the OP off the hook but looks good for "trying". The only down side I could see is if he actually is approved. Then it throws a wrench into both ideas. I think it would have to be told to the daughter that this is a ploy to help her get aid and by chance if accepted, they would have to back out. Good thought though. 'Hub
                    If 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.


                    • #11
                      hub, that actually was the way it worked in the "old" days or back in the 90's. each school handles financial aid differently. it's kinda like trying to get an FHA loan from a bank that has different guidelines than that of the FHA. usually at the beginning of the year the child gets their financal aid award letter. most have included are those parent plus loans, but if the parent doesn't qualify the child is allowed to apply for the loans themselves, but they have to have the denial first from the parents to be able to apply themselves. isn't that a kicker, so the child can't even apply themselves if they are still your dependent.

                      maybe times have changed now!
                      8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! and all are welcome to bk forum's Florida State Questions and Answers on BK


                      • #12
                        Thanks for all the replies and advice. I like the idea about showing Bk papers so she would get the extra loan if needed. We are talking her into going to a local school.


                        Unconfigured Ad Widget