co signer debts

[glc4122]

hello I need some help in dealing about co signer responsibility. i signed several loans at sallie mae for my daughter in college. im the co signer, do i have to list these loans under schedule e. im filing chap 7 pro se.After filing will these loans be disolved or stay with me till paid of by my daughter?

thank you

[HHM]

From the perspective of BK, co-signed loans are no different than any other type of debt. You have a measure of legal responsibility for the loan and chapter 7 eliminates the creditor's right to collect that loan from you. (but not from your daughter).

Strictly speaking, you must list those debts on your BK because you are obligated to list ALL debts (and all assets) in your BK petition.

Also, you more than likely be asked at your 341 meeting (under oath) "have you listed all your debts on your BK petition?"

[glc4122]

thank you for the information