Can I co-sign for a student loan for my niece even though I am currently in Chapter 13 bankruptcy repayment plan?
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Can I co-sign for a student loan for my niece even though I am currently in Chapter 13 bankruptcy repayment plan?
I am currently in a Chapter 13 repayment plan (have been for a little over 4 years now). However, my niece is applying for college in the fall and needs a co-signer. Even though the loan would not need to be repaid until after graduation, can I co-sign on the loan for her?
Asked on June 27, 2012 under Bankruptcy Law, South Carolina
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Even though you are in a Chapter 13 reorganization bankruptcy there is nothing legally preventing you from co-signing the student loan that your niece needs for college. You need to realize that under federal law, a student loan debt cannot be discharged in a bankruptcy.
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