HDDR characteristics and magnetic properties of $Nd_{15}{(Fe_{1-x}Co_{x})}_{77}B_{8}$(x=0-0.6) alloys were investigated. The effect of applying magnetic field during the recombination step on the anisotropic nature of the HDDR-treated material was also examined. The $Nd_{15}{(Fe_{1-x}Co_{x})}_{77}B_{8}$ phase in the Nd-Fe-B alloys with high Co-substitution alloy had remarkably enhanced phase stability. The $Nd_{15}{(Fe_{1-x}Co_{x})}_{77}B_{8}$(x=0-0.6) alloys with high Co-substitution could be HDDR-treated successfully by only using high pressure hydrogen. However, these alloys had no appreciable coercivity. The poor coercivity of the HDDR-treated $Nd_{15}{(Fe_{1-x}Co_{x})}_{77}B_{8}$(x=0-0.6) alloys with high Co-substitution was attributed to the $Nd{(Fe,Co)}_2$ phase in the alloys. The magnetic filed applied during the recombination step had little effect on the anisotropic nature of the HDDR-treated powder.