About 2 years ago I co-sign for my boyfriend at the time to get a loan for a motorcycle. Now, I am trying to get a mortgage loan and came to find out he hasn't made the payments for a while and the account was closed by the credit grantor. I spoke to him and she claims that he missed a payment and they raised his APR from 4% to 22% increasing his monthly payments and he tried to contact them so they can lower the APR but they refuse to do that and he refuses to pay with such high interest. The creditor has not contacted me yet but I would like to know if there is something I can do to take this off my report and clear my name.

You should contact a Credit Services Organization that is registered and bonded with the State Attorney General's office in your state. If you are working with a mortgage broker he or she should have a list of such organizations. Hope this helps.

Hello, you can pay the loan off, And if he was late, yes they can legally raise the interest rate, Next no they don't and will not notify you, often until it goes to a judgement and they decide to garnish your wages.

You are just as liable as he is to pay this, so if it is late, it is late on your credit report also.

***One reason never to co-sign for anyone. So unless you pay it off for him, unless you make the payments, it is only going to get worst, as he don't pay, as they decide to repo and then sue for the balance, all of this will show up on your report, just like his.