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-   -   Can the cosigning process be reversed? (https://www.askmehelpdesk.com/showthread.php?t=146052)

  • Oct 28, 2007, 07:59 PM
    cdag8181
    Can the cosigning process be reversed?
    I just cosigned for a truck for my boyfriend about 4 months ago. I'm now regretting doing so since he is not the most responsible person with his money. Is there any way that I can get out of being responsible for him if he doesn't make a payment, or have someone replace me as the cosigner?
  • Oct 28, 2007, 08:16 PM
    Fr_Chuck
    If your boyfriend will get a new loan to pay off the current one, you can be released, but no they have no reason to let you off, they knew he was a bad risk, that is why they needed you to co sign in the first place.

    If he does not pay you will have to.
  • Oct 28, 2007, 08:53 PM
    CindyLynn
    If your boyfriend is also keeping his other obligations current then his credit score should be improving as a result of this loan. If this is the case there is a possibility that he may be able to refinance the loan after 6 months to a year of positive payment history. This will be the only way you will be able to get out of it. This or if he sells it completely.

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