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Chapter 13 bankruptcy, co-signer on account

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ssss3300
Member

Chapter 13 bankruptcy, co-signer on account

Hello, sorry if this has been asked here before. I waa a co-signer with my father and he filed chapter 13 bankruptcy. A balance of almost $1500 was not paid with infiniti financial. This is on my credit report as delinquent and not paid. Since he filed for bankruptcy and took full responsibility, am I still liable for this account? I tried filing a dispute and was denied. Is there a way to get this cleared off my credit report? 

Message 1 of 3
2 REPLIES 2
09Lexie
Moderator Emerita

Re: Chapter 13 bankruptcy, co-signer on account

From the Bankruptcy FAQS sticky:

 

Will my co-signers be protected?

 

Co-signers are protected only in a Chapter 13 to the extent that the plan pays the full amount of the co-signed debt. If the plan pays the debt completely, the co-signer is protected, but it will be listed in his or her credit record as being paid late. The Creditor may ask the cosigner for any remaining portion of the debt if it not paid completely. In a Chapter 7, the co-signer will have some small protection regarding the collateral during the proceeding, but only because the Creditor can’t go against the property of the estate. After a Chapter 7 is over, the Creditor will proceed against the co-signer personally.

 

 

Based on this information,  it is reporting correctly since the debt is not completely paid. 

Message 2 of 3
ssss3300
Member

Re: Chapter 13 bankruptcy, co-signer on account

Thanks for the response, just wanted to be sure
Message 3 of 3
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