If I co-signed for an auto loan for my daughter, how do I get out of it?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I co-signed for an auto loan for my daughter, how do I get out of it?
Asked on December 16, 2012 under Bankruptcy Law, New York
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
The only way to get out of a loan for which you are a co-signer is to a) pay off the loan or have the main borrower pay off the loan and then ensure the registration is updated so the lien is released by the lender; or b) the main borrower sells the vehicle and has it fully paid off.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.