Anonymous asked in Education & ReferenceFinancial Aid · 10 years ago

Can I remove a cosigner from a student loan, then declare bankruptcy?

I know I can probably get my loans discharged because of undue hardship (poverty, yay!).

But I know if I do that, my cosigner would probably have to pay the loan back which, as a man, I am determined to not let that happen.

I know I'm going to need to get my loans consolidated, can I use this time to remove the cosigner?

If I do all this and declare bankruptcy, would they still go after family members/cosigners even if I had them legally removed from my financial clusterfarce.

Half of the loans are private student loans, because I like putting bricks in blender. (If it matters)


Student loans are not dischargeable in bankruptcy unless you can show that your loan payment imposes an "undue hardship" on you, your family, and your dependents. Non-dischargeable debts are those debts that you cannot totally eliminate when you file for bankruptcy and will have to be paid by you.

5 Answers

  • Anonymous
    10 years ago
    Best Answer

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  • 10 years ago

    Bankruptcy is not going to discharge your student loans. Undue hardship is extremely hard to prove because poverty is guaranteed to last forever. If you were completely and totally disabled for life, then you would be able to get them discharged. However, even in this case, your cosigner would still be liable. You cannot remove a cosigner from a loan because the whole point of the cosigner is that they have agreed to cover the debt if you default.

  • Tigger
    Lv 7
    10 years ago

    You can not change anything on a student loan and if you declare bankruptcy you will still have to pay it, student loans are exempt from bankruptcy filings.

  • Anonymous
    10 years ago

    yes you can not declare a bankruptcy on student loans,Try student loan consolidation that way may get a lower interest rate on your loans.

    Good luck!!

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  • 3 years ago

    in the event that they are federal loans, your dad can no longer incorporate it interior the financial ruin. If it particularly is a private mortgage, he can declare it and that would desire to circulate away your husband to blame for the money. i'm beneficial your dad would be cautioned by making use of the financial ruin attorney what form of mortgage it particularly is.

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