A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.
The contract cannot be changed without refinancing, your cosighner is stuck with it unless the loan is paid off one way or another.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
Since your ex-fiance cosigned on the loan, they are just as much obligated to the contract as you are. The only way they could get their name "off the loan" was, as you said, for the original borrower to obtain a new loan, in order pay off the original obligation. If this is not possible, then she is locked into the original contract.
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
A cosigner cannot simply remove their name from the contract. The cosigner is obligated equally with the primary borrower until the loan is paid. A cosigner's credit history will be affected, hopefully in a positive way.
The contract cannot be changed without refinancing, your cosighner is stuck with it unless the loan is paid off one way or another.
No. You cannot be considered to be a cosigner unless you have signed the loan documents. The bank needs another party to guarantee the loan will be repaid. By signing you agree to pay the loan in full if the primary borrower fails to pay.No. You cannot be considered to be a cosigner unless you have signed the loan documents. The bank needs another party to guarantee the loan will be repaid. By signing you agree to pay the loan in full if the primary borrower fails to pay.No. You cannot be considered to be a cosigner unless you have signed the loan documents. The bank needs another party to guarantee the loan will be repaid. By signing you agree to pay the loan in full if the primary borrower fails to pay.No. You cannot be considered to be a cosigner unless you have signed the loan documents. The bank needs another party to guarantee the loan will be repaid. By signing you agree to pay the loan in full if the primary borrower fails to pay.
A cosigner is a person who signs with another person for a loan of some sort due to credit issues or financial reasons. A cosigner unfortunately does not have as many rights as the person who is first listed on a loan. For example, if you purchase a car and your boyfriend/girlfriend cosigns for you and you two break up, they cannot take the car away from you. However, if you are late on payments, the cosigner will then be responsible for the payments.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
A cosigner cannot be arrested solely for being a cosigner on a loan. However, if the primary borrower defaults on the loan, the cosigner may be held responsible for the debt and face legal action if they do not fulfill their obligations.
Since your ex-fiance cosigned on the loan, they are just as much obligated to the contract as you are. The only way they could get their name "off the loan" was, as you said, for the original borrower to obtain a new loan, in order pay off the original obligation. If this is not possible, then she is locked into the original contract.
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
A cosigner cannot simply remove their name from the contract. The cosigner is obligated equally with the primary borrower until the loan is paid. A cosigner's credit history will be affected, hopefully in a positive way.
U.S.Mail or Fax and a Notary Public is all you need.
Unless you have a specific repayment plan that the collection agency agreed to, there is no legal reason that cannot sue the cosigner.
When you cosign for an automobile purchase you are typically liable for an automobile repossession in Michigan. The reason why is because you are responsible for car payments as a cosigner if the primary debtor cannot pay.
You cannot sell the car as you do not own it. The only thing you can do is try and persuade the owner to sell the car.