The LENDER put the repo on there so they will be the one to take it off. NEGOTIATE.
A repossession will significantly lower your credit score, regardless of the balance. It will take around 7 years before the repossession is removed from the credit report.
Who pay's a defaulted studentThe student is responsible and if judgment is granted then they take money either from their pay check's or their income tax will be held for payment until debit is payed. So the student has either garnessment of wages or tax return's..... In the US, a cosigner can be removed from a loan if the original borrower consolidates his/her loans in only their name. To get help with the consolidation of defaulted loans, click on the link at the bottom of this text box.
A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.
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.
No. The loan must be paid off and you must refinance without the co-signer.
The co-signor might be doing you a favor and might not be. Just tell the lender what you want to do. IF youur credit is good enough, they will take care of the paperwork.
A car loan is a contract. A contract can only be modified (unless declared illegal or void) with the agreement of all parties, so - no - the cosigners can not remove themselves without your approval.
The only option is for the loan to be refinanced without the particpation of the present cosigner.
A repossession will significantly lower your credit score, regardless of the balance. It will take around 7 years before the repossession is removed from the credit report.
Who pay's a defaulted studentThe student is responsible and if judgment is granted then they take money either from their pay check's or their income tax will be held for payment until debit is payed. So the student has either garnessment of wages or tax return's..... In the US, a cosigner can be removed from a loan if the original borrower consolidates his/her loans in only their name. To get help with the consolidation of defaulted loans, click on the link at the bottom of this text box.
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.
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.
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.
No, a cosigner can only be relieved of the financial obligation by a refinancing of the loan agreement without them being a participant.
A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.
If it's not actually true, then you can dispute it with the reporting agency. If it is true, then you don't "get it removed." It will be removed after a certain amount of time has elapsed.
IF YOU LEGALLY REMOVED THE COSIGNER FROM YOUR CAR LOAN,TITLE AND ALL. IT NOW BECOMES A CIVIL MATTER,WITH EVIDENCE ON HAND A LOCAL SHERIIFF'S MIGHT BE HELPFUL SINCE THEY HANDLE CIVIL MATTERS. I DON'T FORSEE ANY PROBLEMS IN ACQUIRING YOUR VEHICLE.