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The loan needs to be re-financed and be assumed solely by the person who originated the loan. The original person will need to have a worthy credit rating in order to escape the need for a co-signer.
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∙ 15y ago
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Can my cosigner take their name off the loan without my permission?
The only way to take a cosigner off of a loan is to refinance it.
Can you remove a repossession off your credit report if your cosigner has a judgment on the repossession?
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
Can a cosigner get off the loan if it has been financed for over 2 years?
A cosigner can only be relieved of the financial obligation through refinancing of the loan without the current cosigner's participation.
Does the primary signer have to be present for the cosigner to get off of a loan?
no
What happens to the cosigner if you are in chp 7 bankruptcy and you default on your car loan?
If you default on your loan, the cosigner is stuck with paying it off. If your credit had been any good in the first place, you would not have needed a cosigner.
Does a cosigner have rights to the car even when its paid off?
No, the cosigner will not have rights to the car after its paid off because the purpose of a cosigner is to pay off the notice if you fail to do so. Being a cosigner does not give them to any rights to the car.
What are the benefits of a cosigner?
A cosigner basically is a guarantor for the repayment of a loan or value and serves as cosigner of the debt. If the debtor fails to make payments or defaults, the cosigner is obligated to pay off the debt. No benefits for the cosigner, but cosigner benefits the debtor.
Can my cosigner take their name off the loan without my permission?
The only way to take a cosigner off of a loan is to refinance it.
What are the benefits of cosigning?
A cosigner basically is a guarantor for the repayment of a loan or value and serves as cosigner of the debt. If the debtor fails to make payments or defaults, the cosigner is obligated to pay off the debt. No benefits for the cosigner, but cosigner benefits the debtor.
The obligation of a cosigner is discharged by?
The obligation of a cosigner is discharged by a borrower securing a loan to the satisfaction of the creditor. Paying off a loan will also discharge the obligation of a cosigner.
Can you remove a repossession off your credit report if your cosigner has a judgment on the repossession?
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
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.
Can a cosigner get off the loan if it has been financed for over 2 years?
A cosigner can only be relieved of the financial obligation through refinancing of the loan without the current cosigner's participation.
Does the primary signer have to be present for the cosigner to get off of a loan?
no
Does a cosigner own the property if he pays off the original loan?
The cosigner of the loan owns 1/2 of the property if they are on the title.
Can a cosigner have a primary title holder taken off the title?
If you go to the registration office with the primary and have them give consent to the cosigner
What happens to the cosigner if you are in chp 7 bankruptcy and you default on your car loan?
If you default on your loan, the cosigner is stuck with paying it off. If your credit had been any good in the first place, you would not have needed a cosigner.
