I cosigned on a car loan for my ex-boyfriend how can I be removed from the loan

What is the name of your state (only U.S. law)? Ohio

Co-signing on any loan is a very dangerous practice.

You can remove yourself from the loan by selling the car and paying off the loan.

If your boyfriend will not agree, then you may have to sue him to force the sale.

You should consult with a local attorney for advice.

This question arises often, which goes to show how much more people really need to understand about co-signing before they sign on the dotted line. It's a legal commitment to the finance company, just as if you'd taken out the loan yourself. You have recourse against your ex-boyfriend, but unless the finance company voluntarily agrees to remove your name from the loan (and why would it, since the very reason they asked for a co-signer was so that they've have someone more reliable to collect from if your then-boyfriend defaulted?), your name will be "off the loan" when the loan is paid off. It could be paid off through refinancing or, as another poster suggested below, you could take legal action to force the sale of the car. You could pay the loan yourself and then take action to collect from your ex-boyfriend or to take possession of car yourself. You could discharge the debt in bankruptcy, but from your description it doesn't sound as if your overall financial situation warrants that. Each of these approaches requires a very specific procedure and may have pros and cons depending on your particular situation. A local attorney will be in a better position to look at the specifics of your situation and explain the processes under your state law so that you can make the best decision. Please talk to one soon--from what you've set forth above it sounds as if your only problem thus far has been with credit reporting, but it is likely that if your ex-boyfriend's delinquencies continue, the finance company will begin collection action against you.


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