Contract

Your rights and obligations likely are set out in the loan documents.

In general, a co-signer is just as obligated to pay the entire loan amount and collection costs as the borrower. Moreover, in many loan documents, there is a clause that states that the creditor may go after the co-signer without first starting collection actions against the borrower.

Since the borrower is your nephew, you may have to resort to family pressure to get him to take care of the loan.

The only way that the creditor would agree to remove your name is if the loan and collection costs are paid in full (perhaps by refinancing the loan).

If informal actions do not work, you may have to resort to legal action to get payment from your nephew.

You may want to review your facts and options with an attorney.