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No, a co-signer is legally and equally obligated until the loan is paid in full or until the loan is refinanced w/o the original co-signer being a party to the action.

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โˆ™ 2015-07-15 21:12:09
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Q: Can the cosigner of a student loan be removed from the loan after the student finishes college and has a job and the ability to repay on his own?
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Related questions

How can a cosigner be removed from the loan?

The only option is for the loan to be refinanced without the particpation of the present cosigner.

Is there a way for the cosigner to be removed as cosigner if primary owner defaults?

No. The purpose of requiring a co-signer is that in the case of a default by the primary borrower, the cosigner has agreed to be fully responsible for the loan. Therefore, if the borrower defaults, that's what you're there for if you're the cosigner.

How can you get a cosigner off of the title?

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.

Are there legal options that a cosigner can use to be removed from an auto loan?

No, a cosigner can only be relieved of the financial obligation by a refinancing of the loan agreement without them being a participant.

Can the cosigner of a student loan be removed from the loan if the student did not use the loan for its intended purpose And the student did not finish college and is not paying the loans?

NO you have s secondary obligation for the note, not the money or how it was or was not used.

Can a cosigner be removed from a vehicle title before the signer declares bankruptcy?

Yes, they can be removed from the title although there isn't much point to the action if the vehicle is subject to BK seizure. However it is not possible to be removed from the loan agreement. The cosigner will likely be obligated to pay the outstanding debt.

How do you get your name off of an auto loan that you cosigned on if other party cannot get another loan and has nobody willing to take over as cosigner?

A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.

If you refinance a loan to have the cosigner removed and the cosigner has the car how do you go about getting the car from them if the loan and title are now in your name only?


If you were to cosign for a rental agreement how will your credit be affected and how does one get removed as cosigner?

The way it may impact on the credit report depends on if the person pays the rent as agreed. It will also play a part in the cosigner's DTI. Usually the only way of being removed as a cosigner is if the agreement is reaffirmed by the primary holder and the lender. In the instance of rental agreements, a cosigner can sometimes be relieved of obligation if there is a breach of contract. For example, if the person moves someone not on the original rental contract into the apartment.

Can a cosigner be removed from mortgage loan?

No. The loan must be paid off and you must refinance without the co-signer.

In New Jersey can a cosigner be removed from the deed without signing the quitclaim deed form?

The obligation of being a cosigner and the inclusion of the person's name on a deed are two different issues. Being removed from a deed does not relieve the cosigner of the financial obligation of the loan. In addition, a quit claim to property is usually necessary, the action needed depends upon the laws of the state where the property is located.

If you helped your mother get a home and her name is on the deed but yours is on the note and she has been missing payments is there an easy way out?

The only option to be removed as a cosigner is to have the secured property refinanced without the cosigner being involved.

If you want to get off of a loan as cosigner can you just sign a document saying you are no longer responsible for the car loan and that the other party is?

No. The only way to be removed as a cosigner is for the loan to be refinanced assuming the lender will allow that to happen.

Can you remove a co-signer without the co-signer's knowledge?

A cosigner can only be removed from a loan through refinancing of the original agreement.

If the primary goes to jail can your name be taken off of the loan?

No, a cosigner or co-borrower can only be removed from the obligation of the debt by refinancing.

How can someone be released from cosigning a mortgage loan without ruining their credit?

The only way to be removed from the obligation of cosigner is for the loan to be refinanced.

If someone cosigned a lease to your apartment can they take their name off the lease even if you have been paying the payments?

No. Once a cosigner has signed the contract the only way they can be removed from the responsibility is a new agreement being made without the assistance of the original cosigner.

Can a primary be removed from a loan?

That will have to be arranged between the lender and the co-signor. The only way to remove anyone from a loan is to have the person being removed sign verifying that they want to be removed AND whoever will be left on (or added to) the loan must reapply for the loan on their own. This means, if the cosigner does not have good enough credit, then either the primary must stay on the loan or (if the loan is backed by collateral such as a car or house) then the collateral can be sold to a third party. In which case, of course, the primary and cosigner will be removed.

Can a cosigner be removed from a lease?

The co-signer cannot be released until the lease has expired unless the lessor agrees to release the co-signer in writing.

Do ferrets have the ability to spray?

Ferret do not have the ability to spray, however if they have not had their anal sacs removed, they can emit an odor when frightened

How can the co-signer be removed from a car loan?

You can try to re-finance the car with a different lender without the cosigner if you've established enough good credit.

If cosigner pays off a defaulted loan is there a way to have a repossession removed from cosigners credit?

The LENDER put the repo on there so they will be the one to take it off. NEGOTIATE.

If you are a cosigner for someone and they default on the payments and the cosigner pays the debt off can you have the past due amount removed from your credit report?

No, you signed, you are equally responsible for the payments, you are also equally responsible for what happens with regard to default. This is why the lender permitted you to sign as a co-securer of the original loan.

If you gave a 30 day notice to be removed from rental agreement and during this time a eviction notice was served what is my obiligations?

if a eviction notice was servered after i gave a 30 day notice as im a cosigner to be removed from agreement am i still responsible

Can the cosigner of a student loan be removed when the loan owner stopped paying because she was convinced to by a third party who used defamation of character against the cosigner?

It may depend on your local state laws, but generally, no. Once you cosign, you are liable for payments if the other stops paying, no matter the reason.