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Jenkins Clayman's blog

Can my creditors sue co-signers (like my parents) on credit card debt, a car loan, or student loans?

If you file a Chapter 7 there would be nothing to stop a credit card company from suing your parents as co-signers as they are responsible for the account, just as you are. The bankruptcy would take care of your liability on the debt and would discharge it, but it would not have any impact on the relationship between your parents and the credit card company (they would still owe the money). 

If I file a bankruptcy will I be able to buy a house, rent an apartment, get a credit card, or buy a car?

Even if you have a bankruptcy that is ongoing, it will not necessarily prevent you from buying a house, and it certainly will not stop you from renting an apartment. It also won’t stop you from getting a credit card, because you can always get a secured credit card. Finally, it will not prevent you from buying a car.

Is there any way to get a creditor to remove the "charge off" from my credit report?

We received the following question from a user:

I received an offer from a creditor, the settlement amount is 40% of the total owed. Is there any way to get the creditor to remove the “charge off” (from my credit report) that they have already done on my account and replace it with “settlement/balance resolved/delinquent?

I fell behind on my mortgage payments - can I file a Chapter 7 and walk away?

We received the following question from a user:

I fell behind on my mortgage payments due to unforeseen family circumstances. The mortgage company has been horrible. The house needs a lot of work. I can’t make the repairs and make the repayment they want me to make to catch up monthly. The mortgage company told me there is no special arrangement that I qualify for in order to either recast my loan or catch up on the payments. Can I file a Chapter 7 and walk away from this debt?

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