How are co-signors and other parties who may be liable to a creditor affected by a debtor’s discharge under chapter 7?
A chapter 7 discharge releases only the debtor. The liability of any other party on a debt is not affected by a chapter 7 discharge. Therefore, a person who has cosigned or guaranteed a debt for the debtor is still liable for the debt regardless of the debtor’s chapter 7 discharge. The only exception to this rule is in community property states where the spouse of a debtor is released from certain community debts by the debtor’s chapter 7 discharge. Contact the law office of Zachary Bushatz at 1-937-318-1529 today to set up your free initial consultation.
Related Questions
- Does a Chapter 7 discharge effect the liability of other parties who may be liable to a creditor on a discharged debt?
- Does a Chapter 7 Discharge affect the liability of other parties who may be liable to a creditor on a discharged debt?
- How are co-signors and other parties who may be liable to a creditor affected by a debtor’s discharge under chapter 7?
