Student loans?

I have a private student loan, and have been considering to file bankruptcy. I also have a co borrower on this loan as well. Would declaring bankrupt on my credit, affect his as well, (would he not be responsible) or would he still have to pay for the student loan.

Student loans?
The whole point of a cosigner is that they will pay if you don't, so your cosigner would have to also file bankruptcy to get out of any primary obligation for the debt. If he didn't pay, it would affect his credit. Bankruptcy will also affect your credit, I hope you know--like for 7 or 8 years. It's a better idea (if you have not already done this) 1- to work with a non-profit consumer credit counseling (CCC) service, which will renegotiate your debts and your payments with your creditors, OR 2- to work out something with your creditors, youself. Depending on how many creditors you have, it would take you more time to do it yourself than to work through a CCC. You would need to work with a CCC service before defaulting on any of your bills, I think. Often your student lenders will allow you periods of forebearance, which you might check into. It's all better than filing for bankruptcy, as that can also cost you jobs. It is an indication to an employer that you are not good with your own resources, which they assume means you will not be a good steward of theirs. Really think about it. It's not a get-out-of-debt-free card. There are long-term consequences.
Reply:Student Loans follow you through the bankruptcy. If you have a co-signer it will hurt his credit. Have you considered forbearance? Do you have a lot of collections? Check into other solutions before filing bankruptcy. Check out http://www.perfectcreditcompany.com
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