If two people co-sign on a home mortgage and one of them files for Chapter 7bankruptcy, will the credit report of the other co-signer for the home mortgage be affected, even when the mortgage payments are kept current? Or do I have to reaffirm the debt.
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Generally no. If the BK does show up, simply dispute it. Legally, if the co-signer did not file BK, the debt is not bankrupt as to that individual and should not be reported as such. -
Hi bc,
Don't reaffirm! HHM has the right advice, dispute it. Shouldn't be a problem to clear it up.
Tom in ColoCh7 filed 5/12/2010.....341 meeting 6/30/2010....report of no distribution 8/15/2010.....discharged 10/01/2010.....closed 11/09/2010Comment
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