Bankruptcy Services of Collins Barrow Limited - for Calgary and Edmonton, Alberta

Author:		T Collins
Date:		August 2, 2000
Question:		My husband has a loan and it is co-signed by his mother and he wants to file but is worried that he can't because his mother will have to repay the loan for him. What are his options? She co-signed more than one loan and we can't afford to make the payments anymore due to a change in jobs.


From:		Shane Brenneis, Collins Barrow Limited
Date:		August 23, 2000
Answer:		Unfortunately, if your husband files bankruptcy, the bank can proceed after his mother for payment of the loan. That is why they take a co-signor. To obtain a free assessment of your options you should contact a Trustee in your area by looking in the yellow pages under "Bankruptcy". If you have any further questions or want to come in for a free consultation to our office, please call or email me using the information below. Shane Brenneis phone: (403) 298-1575 sbrenneis@collinsbarrow.com