If I file for bankruptcy, will it affect a co-signer on the debt?

Yeah, it certainly will! Actually, depends on the type of bankruptcy you will file. If it's Chapter 7, the co-signer will be literally obliged to pay off the debt as he guaranteed the repayment. However, if you file for Chapter 13, you have to make monthly repayments toward your debt under a court-designed repayment plan. As long as you go on paying, the co-signer remains protected.

Yes, the bankruptcy will affect the non-filing co-signer on the debt. The creditor might keep on trying to collect the debt from the co-signer. Moreover, the co-signer’s credit report will almost always display the joint debt that was included in bankruptcy. It is advisable to consult your attorney in such a situation.