Bankruptcy 103 – Dealing with Non-Bankrupt Co-Borrowers

Next Thursday!

May you talk with the nonbankrupt coborrower of a bankrupt borrower? If so, what may and what shouldn’t you say? Does the type of bankruptcy (Chapter 7 or Chapter 13) matter? Does the purpose of the debt matter? Does it matter whether you called the coborrower or the coborrower called you?

May you repossess collateral owned by the coborrower alone?

May you file suit against a nonbankrupt coborrower while the bankruptcy is pending? If you obtain judgment, may you enforce it against the nonbankrupt coborrower? May you enforce a judgment you obtained before bankruptcy against a coborrower during a bankruptcy?

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