Do I need to file bankruptcy if I co-signed for a loan and my boyfriend has now filed bankruptcy?
There’s not a simple answer to that question. It depends on what chapter of bankruptcy he filed, what your other debts are and whether you can pay the loan. The only hard rule is that if the loan isn’t paid in full you’ll be stuck with the remainder.
If your boyfriend filed Chapter 13 the bank can’t come after you as a co-signer long as he is in his bankruptcy. Once his bankruptcy is over if anything remains unpaid you can expect the bank to look to you. If he filed Chapter 7 you have no protection at all; the bank can come after you immediately.
Whether or not you should file is up to you. Knowing that the bank will expect payment from you means you have to factor payment of that debt into your monthly budget. If this will push you over the top in terms of what you can pay then bankruptcy might be an option for you. The best thing to do is speak with a qualified bankruptcy attorney.