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If you are a cosigner on an auto loan for a family member who has not made payments is there any way to remove your name from the loan?
Wiki User
∙ 17y ago
You need to talk to the lender to see if you can get taken off the loan. The reason they required her to have a consigner was exactly for this possibility. Sometimes, a lender may allow a cosigner to be removed, but it's reasonable to say that would only be if the primary has made timely payments as agreed for a reasonable period of time and improved their credit worthiness to where the lender could feel the cosigner is no longer providing any actual needed protection. That would not seem to be the case at all here.
Wiki User
∙ 17y ago
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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.
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.
How can one remove a cosigner from an equity loan if the cosigner is not on the first mortgage title?
The title has nothing to do with the loan. The loan will need to be refinanced using a different cosigner or only the primary borrowers.
How can a primary buyer get the cosigner off the loan you wanted to cosign for your daughter but she didn't have enough credit so to build her credit you put her on as a cosigner how can you get her o?
The LENDER will have to remove any co-signor from the loan. Your only option is to have your daughter refinance the loan in her name only. She might be able to do this, given enough positive credit history on the existing loan and proof that it was her making the payments on time.
How do you remove cosigner from private students loans?
Refinancing in your name, if you have credit, is one easy way to do this.
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.
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.
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 a Credit union member sell car with lien to family member with a power of attorney and bill of sale can the family member remove car from state?
Iodine Iodine
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.
Can you remove A CO signer name after six months?
No, one can not remove a cosigner from any contract after 6 months. The cosigner will have to stay on the contract until the contract is paid.
Can you refinance your car without a cosigner if your current loan has a cosigner?
if you take it to your personal bank and ask them how much you need to have paid already they can indeed refinace you and remove the cosigner
EX wife not making car payments. I'm the cosigner and she won't give me the car back. what should I do?
You should contact your finance company to see what options are available. If they are not able to work with you to remove you from the loan, you may need to consult a lawyer. In the meantime, you should make the payments to preserve your credit.
How can one remove a cosigner from an equity loan if the cosigner is not on the first mortgage title?
The title has nothing to do with the loan. The loan will need to be refinanced using a different cosigner or only the primary borrowers.
If you gat a car with a cosigner and your 17 at the time can you have the car put in your name and get credit for the payments being made when you turn 18?
The terms of the loan are between the bank, and you and your cosigner. To remove the cosigner, the bank would have to agree to pay off the loan and issue a new loan in your name only. Since the value of the car has probably decreased faster than you are paying down the loan, it is unlikely that there is any credit being generated.
How do you remove a family member from your property that is not on the lease?
You just need to tell your family that they need to leave. If they will not, you can call the police to have them removed.
How can a primary buyer get the cosigner off the loan you wanted to cosign for your daughter but she didn't have enough credit so to build her credit you put her on as a cosigner how can you get her o?
The LENDER will have to remove any co-signor from the loan. Your only option is to have your daughter refinance the loan in her name only. She might be able to do this, given enough positive credit history on the existing loan and proof that it was her making the payments on time.
