2006-12-23 12:12:15 · 9 answers · asked by Lady 1 in Business & Finance ➔ Corporations
The person you co-signed for would have to get a new loan for whatever it is you signed for - without you. The new loan would have to go toward paying off the loan you are corrently co-signed on. Hopefully there is a lien on whatever it is that the loan was for, so the new loan would have to pay off the old loan, relieving you of further responsibility.
2006-12-23 12:14:16 · answer #1 · answered by Proud to be 59 7 · 1⤊ 1⤋
You can't, I don't think, without paying off the entire loan, but talk to the lending institution. The reason you cosigned was because the other person didn't have the credit to get the loan, so the LI is probably not going to let you off the hook. Good Luck!!
2006-12-23 20:15:07 · answer #2 · answered by Annie 4 · 0⤊ 0⤋
You can't - it is a legal obligation that will standup in court. The original loan will have to be paid off (either on time or by another loan) before you are released.
2006-12-23 20:15:29 · answer #3 · answered by kny390 6 · 0⤊ 0⤋
You can't that's why you should always be careful with co-signing. It's a dangerous game especially if it involves family members. Can get nasty
2006-12-23 20:14:38 · answer #4 · answered by Anonymous · 1⤊ 1⤋
You can't, until the loan is paid off. By cosigning, you become responsible for the loan.
2006-12-23 20:14:24 · answer #5 · answered by Judy 7 · 1⤊ 1⤋
=(
that sucks...
I don't know.
I would never cosign with someone unless it was someone I KNEW FOR SURE would not have problems paying a loan off :S
2006-12-23 20:20:50 · answer #6 · answered by Anonymous · 0⤊ 0⤋
if it has been longer than 3 days you cannot.
2006-12-23 20:14:38 · answer #7 · answered by david_strickland31 3 · 0⤊ 0⤋
pay off the loan :oâ¦
2006-12-23 20:14:33 · answer #8 · answered by Anonymous · 0⤊ 2⤋
YOU CAN'T
2006-12-23 20:13:54 · answer #9 · answered by Anonymous · 1⤊ 1⤋