I signed up on a car loan as the co-signer the primary has not been consistent with the payments. I know the responsibility of a co signer however the primary has the resources to pay but they choose not too. Is there anything I can do to release myself from the entanglement?
No, you cannot "get your name off" a loan agreement or promissory note. You signed a contract to guarantee payment if the primary borrower defaulted. Money was lent on the basis of your agreement. The only way for you to be "released" is if the borrower refinances the loan without you as a co-signer.
This answer is for general information purposes only and is not legal advice. No attorney-client relationship is intended or formed by the posting of this answer. Law Office of Lisa J. Espada * San Francisco, CA *
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