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shan620 · Oct 10, 2007, 05:28 PM

My boyfriend had co-signed on the loan with his cousin, about six months ago. Right after he got the car he was in an accident and the other car had no insurance, and his cousin did not have real good insurance. He had his car at an autoshop and told them not to work on it until he was sure the insurance would cover it. The autoshop ended up fixing the car because they said the insurance company approved that would pay for the cost to fix it. When he went back to the shop he did not know that they had even fixed the car, and now the shop was telling him that the insurance was not going to pay for it. So now for about 6 months his cousin has been late on payments, and I would like to know if there is any way my boyfriend can get his name off the loan? Plus his cousin does not have any credit to my knowledge, and if he does it is not good credit. And now the autoshop said they were going to sell the car since his cousin has not paid anything so far. I would really like his name to be taken off ASAP anyone have any advise. Thank you.

RichardBondMan · Oct 10, 2007, 05:34 PM

Originally Posted by shan620

My boyfriend had co-signed on the loan with his cousin, about six months ago. Right after he got the car he was in an accident and the other car had no insurance, and his cousin did not have real good insurance. He had his car at an autoshop and told them not to work on it until he was sure the insurance would cover it. The autoshop ended up fixing the car because they said the insurance company approved that would pay for the cost to fix it. When he went back to the shop he did not know that they had even fixed the car, and now the shop was telling him that the insurance was not going to pay for it. So now for about 6 months his cousin has been late on payments, and I would like to know if there is any way my boyfriend can get his name off the loan? Plus his cousin does not have any credit to my knowledge, and if he does it is not good credit. And now the autoshop said they were going to sell the car since his cousin has not payed anything so far. I would really like his name to be taken off ASAP anyone have any advise. Thank you.

He co-signed, an is obligated. I am surprised that the lienholder (co financing the car) has not asked him yet to pay.