What effect does bankruptcy have on a codebtor?
A non-filing co-debtor remains liable to pay the debt. However, by filing a chapter 13 case a debtor can protect a non-filing co-debtor from legal action if the debt is a consumer debt.
A non-filing co-debtor remains liable to pay the debt. However, by filing a chapter 13 case a debtor can protect a non-filing co-debtor from legal action if the debt is a consumer debt.