Hi Tiffany! I made a huge mistake and cosigned for a loan. The individual is now 60 days delinquent and cinsidering bankruptcy. Is there anyway I can get out of this? Or anything possible I can do besides pay for it?

Hi Co-Signed,
Unfortunately, when you co-sign for a loan, that makes you equally responsible for repayment. What you can do is contact the creditor and try to negotiate with them.
You won't be able to avoid not paying anything, but you can negotiate to pay less then what is owed. You can also negotiate for it not to be on your credit report.
I wrote an article here that will help you negotiate. How to Settle your Credit Card Debt in 6 Steps. http://thebudgetnistablog.com/2014/settle-credit-card-debt/ (these steps will work for most types of debt).
Hope this help!
Live richer,
Tiffany
www.livericherchallenge.com <--my new, free, financial resource for women.

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