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The way that can be accomplished is determined by the terms of the lending agreement. Very few, if any lending institutions would allow an account to be amended. The usual procedure is for the account to be closed leaving the original cosigner still responsible to the debt incurred up to the time of closure. The primary holder can then open another account on there own or with another cosigner.

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โˆ™ 2006-06-13 14:45:29
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Q: How do you remove a cosigner from a credit card?
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Related questions

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.


Do you need a cosigner to have your own credit card?

No. Credit card companies will not give to people who have no income.


Is a cosigner on a credit card responsible after the primary dies?

Yes.


Does having a cosigner help your credit?

Yes, having a cosigner on a loan or line of credit/ credit card can help your credit. It can help because, assuming they have good credit, you are more likely to get approved, which gives you a chance to build your credit. The danger is if the cosigner where to default on payments or abuse the account (such as using a credit card you both are signers on to rack up a lot of debt). So if you pick your cosigner carefully it can help you- but remember what you do on the account effects their credit, so make sure you are also responsible with the account.


If your a cosigner and want to remove your name before the loan is paid off will this affect your credit in any way?

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.


I have bad credit and want to apply for a credit card I have a cosigner Where can I apply?

There are many types of credit cards as per your requirements.


Can someone with bad credit co-sign with someone with good credit and get a card using the other person's good credit?

You've got that stated backward. The person with bad credit who needs a credit card would be the borrower. He has to find someone with good credit to be the cosigner. And the cosigner has to really trust the borrower because he is going to be responsible for repaying the card if (when) the borrower doesn't.


If you are a cosigner in someone's loan for a line of credit and he is at default what can the cosigner do to take his name back?

Nothing. The only option for being remove as a cosigner is to have the original loan refinanced without the cosigner participating.


If the cosigner of your credit card files for bankruptcy will this effect your credit rating as well?

Yes. It's possible that the financial transaction that the cosigner was involved with (liable for) might also be affected.


What credit card companies will allow you to apply with a co-signer?

If the cosigner has a good credit rating any credit card company would be more than happy to let them cosign. All credit card companies are interested in is getting their money back. The cosigner should always be as sure as possible that the person they are cosigning for is reliable and will pay back any outstanding balance because if they don't the cosigner is 100% responsible in paying that debt back!


If we have bad credit will a cosigner help us get a mortgage?

Yes, a person with bad credit can get a cosigner for a mortgage. The cosigner will have to have excellent credit and must go into the office to sign papers to become a cosigner.


If you have filed bankruptcy can a cosigner help you get a credit card?

yes and so will $400 as 'security" deposit.


Is a cosigner responsible to pay a credit card debt if the credit card limits are increased from what was originally cosigned?

The creditor would likely claim the cosigner is still responsible, but unless it is in the original agreement that such increases are part of the contract the cosigner could make a case for being relieved of the responsibility or only being responsible for the origninally quoted amount.


How do you get a car loan without a cosigner?

start building your credit, get a department store credit card, like a target card, buy stuff then pay it off the next day.


How much penalty can a credit card company charge?

When a person doesn't pay a credit card bill does the cosigner have to pay the bill and all the interest? How much interest penalty can the credit card company charge per federal law?


How do you remove cosigner from private students loans?

Refinancing in your name, if you have credit, is one easy way to do this.


Can a 17-year-old get a credit card?

At 17 you can have a credit card, although since they are still under 18 they are unable to legally hold the card on their own; they would need to be either cosigner or an authorized user on an adult's (i.e. 18 yrs or older) credit card.


How remove false charge from credit card?

How do I remove false chages from my debit card?


Would settling an active credit card account for less than the full amount affect a cosigner?

Yes. Any transactions good or bad are reported on the cosigner's CR.


Can any adult cosign for a teen to get a credit card?

Yes, but if you don't pay the bill the cosigner will be held responsible


Can you get a credit card at age 12?

Generally no; you cannot get your own credit card until you are age 18. A card can be issued in your name from another adult cosigner, but a legal minor cannot sign a binding contract to repay the loan.


If you file bankruptcy will that remove a charge off report from a credit card?

Filing bankruptcy does not remove a charge off report from a credit card on your credit report. It just adds bankruptcy to your credit report.


If you cosign an auto loan for someone and they refinance in one year and remove you from the loan how will that affect your credit assuming all payments are made on time?

The cosigner's credit isn't affected one ioto unless the person who was responsible for the loan payments defaulted, then and if the cosigner also defaulted. In other words, just being a cosigner does not affect ones credit ratings.


How do you remove my name from credit card from credit report?

To do that you have use whiteout


Will a cosigner's credit history appear on your credit report?

No