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If you no longer want to be a cosigner for a vehicle, you can discuss the situation with the primary borrower to see if they can refinance the loan in their name alone. Alternatively, you could request the lender to release you from your obligation, though this typically requires the borrower to meet certain criteria, such as demonstrating consistent payment history. If neither option is viable, you may need to consult a legal professional for further advice on your rights and responsibilities.
What else can I help you with?
Do you need to be on the insurance for a car you cosigned for if the other cosigner has full coverage?
If the vehicle is insured and you do not ever drive it you wouldn't be required to be listed on the policy as a driver. Most companys though may want all 'owners' listed, for numerous reasons.
Cosigned a car loan for ex-girlfriend and have had to make about 25 percent of the payments and am paying the insurance in the state of Alabama can I take the car from her if I go to court?
You do not even need to take the person to court. You being the cosigner has just as much right to the vehicle as they do. You can go take the vehicle anytime you want to.
If you co-sign for a vehicle do you have to be on the car's title?
NO, and shouldn't want to be unless you don't have faith in the one you cosigned for.
You cosigned for your daughter so she could get an apartment you want to get off of it What do you do?
You have your daughter fill out a new application with the landlord. If they will not accept her without a cosigner, and you still want to be off the contract, you wait until the contract expires and refuse to cosign again.
Can a cosigner take possession of a car if the primary signer is not paying the payments?
Yes. I believe the loaner will contact you with a past due amount, or send you a bill. If this hasn't happened yet, contact the loaner and tell them you want possesion if the car is not being paid for by the buyer. * No. A cosigner has no legal right to a vehicle unless his or her name appears on the title. The cosigner will have to make the payments to keep the vehicle from being reposssesed or have the vehicle refinanced in his or her name with the primary borrower being released from the current agreement, this can only be done if the lender agrees.
Buying a car with temporary permit?
Buying a car may need to be done with a cosigner if you are only using a temporary permit. You will not want to try to finance a vehicle as this would not be approved.
If your vehicle was repossesed do you still have to pay?
If you want the vehicle back you will have to pay the repo fees on top of the late charges and your normal monthly payment to where it is caught up. If you dont want the vehicle you will have to pay the balance of what the vehicle was sold for.
What happens if my cosigner doesn't want to be my cosigner anymore?
It depends on whether they've already co-signed or not. If so, too bad for them. If not, too bad for you.
Do you have any say if you are a cosigner on a truck and you do not want the truck to leave the state?
No, this is really a case of whoever having the keys can do as they wish. Co-signers essentially own part of the liability of the loan, but do not have control of the vehicle.
Is the primary on a loan obligated to pay back a cosigner if the cosigner pays off the loan without the knowledge of the primary?
YES !!! He/she should certainly discuss it with the cosigner. It may be a gift or it may just be that the cosigner doesn't want to have that note appearing on his/her credit report. Whatever the reason, even if the cosigner did it as a gift, the primary should acknowledge and express appreciation. But be prepared if the cosigner expects the loan to be paid back.
Will your credit be damaged if you as a cosigner continue to make payments on a car loan when the primary signer declares bankruptcy?
GET the car(if you want it), make arrangements with LENDER to do what they will expect you to do anyway....NO DONT pay for it and YES it will be bad
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.
