Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - I have a loan, with a cosigner, if he declares bankruptcy and declares on the loan, will my credit be effected? - the loan was in his name with me as a cosigner, if that even matter. we traded months making payments, and got behind, 2 months and they repo'ed the car that the loan was for. so now he is declaring bankruptcy, and i have no car, no job (got laid off), and a $14,000 debt.