If I co-signed for an auto loan for my daughter, how do I get out of it?
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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 11 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.
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