I stupidly agreed to cosign a car loan with my then-boyfriend (Yes, big mistake. Yes I've learned). He has been paying all the payments on time, but I don't want to have any more commitments to him/this. Is there any way I can get my name off the loan? How?
Thanks.
2007-03-07 16:06:37 · 6 answers · asked by Miss Nobody 1 in Business & Finance ➔ Credit
donno...go to the bank where the loan is and ask...
2007-03-07 16:08:46 · answer #1 · answered by Chrys 7 · 0⤊ 0⤋
He will probably have to get another loan only in his name to pay off the joint one. That's what I had to do to get my car in my name only. The company I had the original loan with won't change it after the fact. If his credit sucks, you could be in for the long haul. Good luck.
2007-03-07 16:10:20 · answer #2 · answered by nd721 3 · 0⤊ 0⤋
There is no way to get your name off unless he takes out a new loan on his own to pay off the one you co-signed for.
2007-03-07 16:14:09 · answer #3 · answered by Anonymous · 1⤊ 0⤋
He would have to sign a document stating that he will assume full responsibility and you must also sign stating you desire no further collaterol in the car. However, the lender may refuse to allow this because they want the added guarrantee of a co-signer
2007-03-07 16:09:41 · answer #4 · answered by jam_please 4 · 0⤊ 0⤋
You signed your name saying you would make the payments if he didnt. when he pays the car off you will be clear. tell him to refinance the car to get your name off.
2007-03-07 16:11:24 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Speak with an attorney.
2007-03-07 16:08:47 · answer #6 · answered by Anonymous · 0⤊ 0⤋