The only way to take a cosigner off of a loan is to refinance it.
A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.
Only one way, have the borrower consolidate the loans without you being a cosigner. Then the original loans are paid off, and a new loan is made in only the borrowers name.
No. The cosigner would have to apply for a loan in their name using their credit, income data.
Can't unless you get your name off the loan. The person you co signed for has to get the loan changed out of your name.
A cosigner cannot simply remove their name from the contract. The cosigner is obligated equally with the primary borrower until the loan is paid. A cosigner's credit history will be affected, hopefully in a positive way.
No.
IF the primary has the credit score to satisfy the LENDER, YES. The co-signor will be notified they are no longer on the loan, which will likely make them VERY HAPPY.
Nothing. The only option for being remove as a cosigner is to have the original loan refinanced without the cosigner participating.
A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.
Only one way, have the borrower consolidate the loans without you being a cosigner. Then the original loans are paid off, and a new loan is made in only the borrowers name.
No. The cosigner would have to apply for a loan in their name using their credit, income data.
If a cosigner's name is not on the title they have no legal claim to the vehicle. They can file a lawsuit against the primary borrower to recover money that they contributed towards the paying of the loan.
Can't unless you get your name off the loan. The person you co signed for has to get the loan changed out of your name.
no
Buy cobuyer I wonder if you mean cosigner on a loan. If this is the case then the answer is no. As a cosigner you are simply agreeing to pay the loan if the person who took it out does not. It is in his or her name and you are responsible for it if they do not pay it.
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.