co signer

[834kAOL.com]

can you get out of being the co-singer of a auto loan agreement.

 

[I AM ALWAYS LIABLE]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by 834kAOL.com:
can you get out of being the co-singer of a auto loan agreement.<HR></BLOCKQUOTE>

My response:

I can only think of two ways:

1. Die, or

2. By way of a new agreement with the contract holder, substituting someone else with as good, or better credit than yourself.

Otherwise, no.

IAAL



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[Concern]

Beware - a friend of mine was a co-signer and the person who owns the auto defaulted the loan and the car got repossed now my friend's credit is ruined and she cannot get a car of her own nor buy a house - it stays on your credit till its paid and seven more years after that!

 

[Concern]

Beware - a friend of mine was a co-signer and the person who owns the auto defaulted the loan and the car got repossed now my friend's credit is ruined and she cannot get a car of her own nor buy a house - it stays on your credit till its paid and seven more years after that!