Under the Bankruptcy Code, a debtor is required to list ALL assets and ALL debts on the petitions and schedules that must be completed and filed with the Bankruptcy Court. In doing so, the documents require the disclosure of all co-signed obligations and debts as well.
Listing these co-signed debts does not force that debt into bankruptcy for the other debt co-signors; it simply makes the court and other debtors aware of all financial obligations of the filing party.
For complete information and instructions on completing all of the Bankruptcy petitions and schedules — along with the proper filing procedures — see Standard Legal’s Bankruptcy legal forms software page.