Cosigner’s Responsibility on an Unpaid Student Loan

As a co-signer on a student loan, you promise to pay the debt yourself if the borrower defaults. If the creditor has attempted to collect from the student and failed, late fees and collection costs are also passed on to you, in addition to the original debt amount.

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Can I pay some debts outside of bankruptcy?

Paying debts out of bankruptcy is generally inadvisable. Some payments that are paid before bankruptcy is filed can cause trouble and trustees have the right to ask the creditor for the money back. Making payments outside of bankruptcy can also mean making payments directly to creditors rather than through the trustee.

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