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My mom co-signed a loan a while back for me. Just this last December we filed for chapter 13 bankruptcy. The attorney said that nothing would happen to my mother, but unfortunately it seems that it was put on her credit report that she is the co-debtor to someone that filed bankruptcy.

Is there anyway to have that removed? My lawyer isnt' answering me. It has destroyed her credit.

Thank you

As the debt was included in the bankruptcy filing, it will be mentioned in your mother???s credit report. However, it won???t affect her credit scores in any way. Moreover, she won???t face any issues in qualifying for any kind of credit or loan. I don???t think she will be able to remove the item from her credit report.

Sub: #1 posted on Wed, 06/29/2011 - 20:54

Anna Sweeting Anna Sweeting

(Posts: 1827 | Credits: )

I would agree with Anna as such sounds plausible (not too familiar with credit reporting issues) but I just wanted to point out that such would apply only if the account is being paid as required by either you or mom.

If the account is not being paid the lender may go after mom since she is also responsible and, presumably, has not filed bk.

Edt: Since you are in a 13, payment would only be allowed by you if provided for payment of this co-signed consumer debt through the Plan purusant to 11 USC 1301. Did you? If not and mom is not paying then, once the creditor gets relief from the co-debtor stay the creditor will go after mom for payment. You need to verify that the Plan pays the claim IN FULL.


Sub: #2 posted on Thu, 06/30/2011 - 05:04

despritfreya despritfreya

(Posts: 170 | Credits: )

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