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    pendoo's Avatar
    pendoo Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 5, 2007, 08:38 AM
    Cosigning for a friend
    I just wanted to know what I need to do to get out of a loan that my husband and I cosigned for a friend to buy a quad? So far no problems but we have come to find out how unstable he can be and for our own peace of mind we would like to remove ourselves from the loan but we do not know how to go about doing this. Thanks in advance for any help on this matter.:)
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Feb 5, 2007, 08:47 AM
    You can't get out until the loan is paid off. If your friend can get credit on his own now, have him get a new lon and pay off the existing one.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #3

    Feb 5, 2007, 09:23 PM
    I am afraid I have to agree with Scott.

    You can't get out of it, unless your friend is willing to re-finance on his own.
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