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How can I get my name off a cosigned loan?

Bothell, WA |

March 2012 I cosigned an auto loan for an ex boyfriend's friend due to coercion and fear. I received a notice in the mail today stating a delinquency in payment. I found the party's email and asked if they would consider refinancing and their response was not pleasant. I ultimately do not want to be affiliated with these people anymore, can a lawyer help me?

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Attorney answers 3


You should consider finding a local attorney who will give you a free consultation. However, I do not believe there is a way to get you off the loan. The finance company or bank has no incentive to release you from the obligation you agreed to take on. They want to be sure to get paid which is why they required a co-signer in the first place. There may be some remedy against the friend, but that's not in my area of expertise.


I agree with Mr. Ballard and unless you can prove the coercion you cannot expect to rescind your guaranty of the loan. The worst news is that even if you paid the entire loan you have no rights in the collateral. However you will have a case against the borrower and you will have a defense if they repossess the car and sue you for the balance remaining. You defense could be failure to join an indispensable party. Therefore, go see a lawyer and then maybe you can construct an offer and that will include information they need to get the car and eliminate you from further ongoing collection efforts once they have the car.
Good Luck

Only If and until you and I sign an Agreement for Legal Services, I am not your attorney. These answers are provided for informational and/or novelty purposes


I would have to agree with both of the other posters. Unless you can prove coercion, you might be better served to contact your ex-boyfriend, and insist he refinance and/or have a friend or family member agree to substitute in as a co-signer on the account. Really the creditor has no requirement to grant you a release, and unless you can make them more secure than they already are, they won't typically work with you on these types of matters.

Disclaimer: I provide information about the law designed to help users safely cope with their own legal needs. But legal information is not the same as legal advice -- the application of law to an individual's specific circumstances. Although I go to great length to make sure my information is accurate and useful, I recommend you consult a lawyer if you want professional assurance that my information, and your interpretation of it, is appropriate to your particular situation.

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