zoom_zoom33 asked:


I am planning on filing for bankruptcy but have two items I had a co-signer for? I have tried debt consolidation and 8months into it and having problems making the monthly payments. So now I am needing to file for bankruptcy but my auto loan and a personal loan had a co-signer. My question is can the co-signer file for bankruptcy if they only have a credit card that is maxed out and they only have the 2 items they co-signed with me on. They could not afford to take on both payments if I were to file bankruptcy. This person only takes home 1600 in payments and rents a home with me. the monthly auto payment is 475 and other loan is 230 monthly. Would I have to file for bankruptcy first? I am not looking to get judged here and yes I know it would be best to speak with a bankruptcy lawyer on this matter but any answer on this situation would be appreciated. PLEASE no judging. I am aware I made a mess of my situation and after bankrutpcy is through no more credit cards except one to rebuild my credit score.

R M K asked:


I am caught between debt consolidation and filing for bankruptcy. Either option negatively affects my credit – so does not doing anything. Also, I am concerned that I will not be able to pay off my debt through consolidation.