QUESTION
I want to release myself as a cosigner.
Asked on Jul 16th, 2024 on Debtor and Creditor - Missouri
More details to this question:
cosigned a car with girlfriend, girlfriend cheated, i want to release myself as a cosigner.
1 ANSWER
Business Law Attorney serving Manchester, MO
Partner at
The Law Offices of Robert Grant Pennell, LLC
2 Awards
This is one of the many reasons one should never cosign for another person. The lender only agreed to lend money to this person based on your co-signing, so it had another person to hold accountable if and when this person failed to pay on the loan. While I can certainly appreciate your desire to no longer be on the note as a co-signer, there is no way that the lender will release you from that obligation. Put yourself in the lender position - if you had two people that you could hold liable for a debt, one of which was a better credit risk than the other, would you agree to let the better credit risk go?
Answered on Jul 17th, 2024 at 8:59 AM
The answer above is only a general statement of the law and not intended as legal advice.