Yes.
If you no longer want to be a cosigner for a vehicle, you can discuss the situation with the primary borrower to see if they can refinance the loan in their name alone. Alternatively, you could request the lender to release you from your obligation, though this typically requires the borrower to meet certain criteria, such as demonstrating consistent payment history. If neither option is viable, you may need to consult a legal professional for further advice on your rights and responsibilities.
If the loan is paid off, the lender will give you a lien release. With that release in hand visit your local DMV to have the cosigner removed.
As a contract, a lease is binding on the parties under its terms, and there may be specific words about what to do in this situation, but usually you can get out only if everyone else agrees to start over. In general: If you cosigned then you are a partner with all the other cosigners (for the purpose of paying rent) until they agree to carry your portion of the burden and the landlord agrees to release you from your obligation (accepting a new agreement with the remaining cosigners). First you should get agreement from your partners (to release you) and then they can present their new offer to the landlord, perhaps with a substitute for you.
what is the difference between release forms and discharge forms in bankruptcy law..
To obtain an ally cosigner release, you typically need to make a certain number of on-time payments, meet credit requirements, and submit a request to the lender. The lender will review your financial situation and credit history to determine if you qualify for the release.
A cosigner is obligated as long as the loan exisists. The loan must be paid off or refinanced into the primary borrower's name only to release the cosigner.
A cosigner is obligated as long as the loan exisists. The loan must be paid off or refinanced into the primary borrower's name only to release the cosigner.
The Bankruptcy of Boggs and Schultz - 1916 was released on: USA: 3 May 1916
Ante Usted - 2008 Bankruptcy was released on: USA: 18 January 2012
Yes, but the court may not allow the bankruptcy to be used to release the co-signer from the financial obligation.
no
Urban Bankruptcy - 2005 was released on: USA: 12 June 2005 (Waterfront Film Festival)