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Cosigner Responsibilities: When Is a Cosigner Liable for a Debt?

Sawin & Shea

Co-signers are beneficial for those seeking to obtain loans and credit cards. If you have a co-signer associated with your debt or if you are a co-signer, you need to be aware of how financial liability works and what happens when the primary debtor declares bankruptcy. Plus, being a co-signer can help a debtor build credit.

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Rebuilding Your Finances: Credit Cards After Bankruptcy | Credit Tips

Sawin & Shea

Plus, these bankruptcy options also provide protection from creditors. Although bankruptcy can help you overcome debt, it will negatively impact your credit score, making it more challenging to obtain credit cards, loans, and other financial products. An unsecured credit card does not require collateral to obtain approval.