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What is your responsibility if your soon-to-be ex won't remove you from his truck loan?
Wiki User
∙ 17y ago
It The Divorce Papers Request This. Most Likely His Name Is First On The Note. After The Divorce It`s His, If You Let Him Have The Vehicle ( Which Is Fair ).Don`t Worry I`m Sure It Won`t Affect Your Credit & If Not Paid For, It Will Be On Him. Best To You If you can get access to the truck, put it in storage somewhere and offer to let him have it back after he gets your name off the loan. You may want to talk to your attorney about that first though, just to make sure it's legal.
Wiki User
∙ 17y ago
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How do you remove yourself from responsibility of a loan if you are the co-signer?
You are on the hook if the primary borrower defaults. You cannot unilaterally abnegate your responsibility. You can, however, try to convince the primary lender to refinance the existing loan -- without you as cosigner, this time!
What is responsibility as an heir to deceased's loan?
There is no responsibility. The loan is the responsibility of the estate. They are required to pay off the loans if possible.
How can I get out of a cosigning loan that is still active?
Chances are you will not be able to remove yourself from responsibility for any loan you cosign until the loan is paid in full. Remember, the borrower needed you to cosign because he didn't have credit, or had bad credit and was not considered by the lender to be a suitable risk. By cosigning, you are actually taking full responsibility for repaying the loan. There are a few situations where a lender may agree to remove you as cosigner if records indicate that payments have been made on time for a period of
Your semi truck was total out and insurance want to pay-off your loan and not replace your truck what do you do?
Buy new truck with new loan.
What is grantor?
what is the responsibility of a grantor, putting up security example car if the person that has taken out the loan has not paid the loan off in full what is the responsibility of a guarantor
How do you you get out of a car loan when moving overseas?
Sell the car!! Just because someone is moving out of the country does not remove their responsibility of paying the car loan. You agreed, in writing, to pay back all monies loaned to you to purchase the vehicle. You must pay the loan one way or the other.
Can a payday lender sue you if you were not approved for the loan?
No. If you were not approved for the loan, no loan was made and therefore you don't have any responsibility to the lender.
If you had a co-signer for a truck loan in 2002 for which the bank held the title is it legal for the co-signer to repossess the truck after paying off the loan when you defaulted in 2005?
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What can i do if i am listed as a cosigner and my spouse took the car and left the state?
i would report it stolen. if the payments are made the loan company can and probably will come after you for the money. If you report it stolen to the cops you can at least report it to the insurance company and the loan company and that should remove your responsibility.
What happens when the signer of a car loan passes away and there is a cosigner as well?
The Cosigned assumes full responsibility of the loan.
How do you remove your name from a joint auto loan?
The car loan will have to be paid off in order to remove your name. The other signer will have to get a new loan in her/his name only.
I am going to get a loan for a new truck. My father is going to cosign for me. Since he is the cosigner is it legal for him to take the truck from me if he wishes?
Yes, because if you do not make the payments, the missed payments affect his credit report. If you want to own a truck, then buy one using your own cash or credit ability. If you are still a minor, then he has the right and responsibility to help you manage your life so that your are safe.
