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Questions on Bankruptcy

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Junior Member
What is the name of your state?undefinedWhat is the name of your state? I currently live in Billings, Montana. I am 27 years old and at my age have a lot of debt (as maybe some other young adults as myself may have experienced). I am considering filing for Chapter 7. I went to a Debt Reduction Service here in Billings and they stated that my best bet with as much debt that I owe, would be best to consult a bankruptcy lawyer.

I am new to this forum and have a few questions to ask those of you that might be able to help. My situation is, I not only have my own debts to take care of but also have my father's debts as well. My father passed away Janurary of this year and left me to take care of all of his debts. We are originally from Tacoma, Washington, and after my father passed away, I sold our house to pay (or at least to try) to pay off any debts including mortgage, bills, and his funeral expense. Needless to say, with the money that I got back from the house was so little (because the mortgage on the house was still high) I only had enough to pay a small amount on his funeral expense.

Anyways, I am the co-signer on most of his credit cards that are left to be paid off. I read somewhere that if someone (i.e. a child) is a co-signer on debts that are to be paid off from the deceased, that that someone is responsible in paying off those debts. Now, because when we moved here to Billings, Montana last August and I have had an incredible hard time in paying on my own debts due to an substancial pay cut, I have creditors calling me both at work and home and also having the police show up on my door step because the creditors are bothering my neighbors.

I guess what my dilema or questions are, am I responsible to pay off my father's debts since there is no money left from the sale of the house? There was no life insurance that I received as those had been cash surrendered. As for myself, the only assets I have is a Ford Bronco, I do not have any life insurance nor any savings or anything of the like, and I currently rent my home. On top of it all, am currently unemployed and will be starting school here next week (September 7th). With all those senarios that I posted, do you think that the courts will reject my case because of all the different situations in my case? Also, when you file for Chapter 7, can you still file for student financial aid so that I may continue going to school to better myself in the future? If you could provide some relief or any types of responses to my questions, I would greatly appreciate it.



Senior Member
Nothing unusual about your situation. If you cosigned the cards, you are liable. Include them in the bk.
File Chapter 7 ASAP. Bk reform kicks in on 10/17 and it'll be much more complicated and timeconsuming.
You'll qualify for financial aid. It's need based and has nothing to do with credit ratings.
FEderally guaranteed student loans will be no problem as long as you are not in default with other student loans.

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