DIVORCED COSIGNER
Hello,
I was divorced in 2003 and I am cosigner for the car of my ex-wife. She cannot pay the car right now and I've been helping her to pay the car but my problem is I want to remove my name on this car as a co-signer because I cannot afford to pay for the car.
How can I remove my name as a co-signer on this car? What is the requirement for this one? Can I remove it even though there are 2 more years to pay? I cannot afford to pay. I want to take care of my credit but if still have my name as co-signer my credit gonna be bad? Please let me know if I can remove my name as co-signer on this car.
Thank you,
(unsigned)
Unsigned,
Your position is not a very good one. Unless the finance company and your ex-wife agree there is no way, to my knowledge, to force the issue. The only alternatives that come to mind involve selling the car or paying it off with a different financial agreement between you and your ex-wife.
The only one that benefits from removing you as cosigners is you. The other parties have no motivation to release you and probably will not.
Everybody’s Uncle
