Quick question! Just wondered if I had a loan with co-signers on it if they would be notified I fied bk. Keep in my I am reaffirming that debt and i am current on those payments?
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Generally no, codebtors on any particular credit account are not notified by the BK court. But realize that bankruptcies are public record. -
The debt can also show up on the co-signer's credit report as "IIB".Comment
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What does IIB mean?Comment
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IIB = Included In Bankruptcy.Originally posted by pepper2
However, it "shouldn't" show since the co-debtor did not file bankruptcy, but it happens.
However, you should probably tell the co-debtor that you are filing BK, even if you are reaffirming.Comment
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I'm on the other end. I am the primary ... my ex who is also on the car is filing Ch7. what happens to me?Comment
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Yes, they do get a notice in the mail that you have filed bankruptcy. In fact it can appear a little confusing, because some people assume it involves them much deeper than it does, if they do not read it carefully. I would suggest letting those people know ahead of time, so they can allay some fears.Comment
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Extend your cosigner the courtesy of informing them of your intentions to file BK.
Good Luck!
The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.Comment
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