Yes, you’ll be required to disclose loans and any co-signers of loans, and they will be notified of the bankruptcy filing.
This can be embarrassing for some filers, although from the perspective of family members who co-signed student loans, the filing may actually come as good news.
If you are able to discharge much of your debt and heal your finances, you’ll be in better shape to meet the obligations you can’t discharge, like student loans.
Bankruptcy is no one’s first choice, and there are trade offs in any decision of this magnitude.
You’ll sacrifice some of your privacy in exchange for a lot more control over your finances.
For most people considering bankruptcy, it’s a trade off worth making.
The attorneys at Zelenitz, Shapiro & D’Agostino can help you understand the implications of a bankruptcy filing.
Call us today at 718-599-1111 for a free consultation.