I co-signed on a student loan for a good friend to stay in school and wanted to know what the AZ laws are in removing my name from the loan? Apparently, she was supposed to have this done awhile back but hasn't yet. Any advice?

Hello b:

If they wanted you on the loan in the FIRST place, they're NOT going to take you off without calling in the loan. What?? Her credit rating improved to a point where she can carry the loan herself?? Nahhh. That didn't happen.

excon

The purpose of a co-signer is to guarantee the loan if the borrower doesn't pay. This limits the risk to the lender. Therefor,e the lender has no incentive to remove the co-signer. The ONLY way a co-signer's responsibility ends is when the loan is paid off.

A loan can be paid off as part of a re-finance.

Sorry. There is no way to remove your name once you are a cosigner on any loan unless the loan is refinanced in the other person's name. You are basically stuck.

There is no way to "take the name off" unless they either get a new loan to pay this one off, or just pay it off.

You are stuck on it, till it is paid off. And if they don't pay on it, you will have to.

Advice, yes be ready to start making the payments when they are late or it will harm your credit also