Joint Debtor or Co-Debtor?

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Joint Debtor or Co-Debtor?

Joint Debtor and Co-Debtor sounds like the same thing or same debtor, but they have distinct meanings in bankruptcy. A person who owes money along with you on a given obligation is your  joint debtor; whereas, a person who files bankruptcy with you is your co-debtor. For example, a parent who co-signs a student loan for you is your joint debtor. Your wife who files bankruptcy with you is your co-debtor.

You can be a co-debtor without being a joint debtor on anything.

 

 

2013-04-07T22:49:31+00:00
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