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"I have a bank loan that my dad cosigned. If I go bankrupt, how does it effect him."
If you file for bankruptcy, as the cosignor, your dad is totally responsible for the debt. Your bankruptcy only effects your responsibility towards the debt. It is probably a good idea to let you dad know that you plan on filing for bankruptcy.
If you have a question, please feel free to email me.
posted by Rebecca Martyn, CGA, CIRP, Trustee @ 4:59 PM
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