Removing Yourself as Co-Signer
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Removing Yourself as Co-Signer
Keep in mind that if you co-sign a loan, it will show up on your credit report. When you go to apply for your own loans down the line, your debt to income ratio may be so high that a lender might not want to give you the credit you need. Co-signers, take note of this guaranteed loans advice: If you are the co-signer on a loan that has been satisfactorily paid over an extended period, you can request that your name be taken off the loan and that the lender report it to the credit agencies. If you co-signed a mortgage, it gets more complicated in that the loan may need to be refinanced. However, it's worth the extra effort since it will remove thousands of dollars liability from your credit report—and your shoulders.
Comments
8/28/2006 8:54:11 PMLisa said:
Is it possible to remove your name as a co-signer from a student loan. The student has left school and is probably not going to be in a situation to repay her debt. Therefore, I am worried about my name. What can I do in this situation.
9/12/2006 2:40:14 PM
Mario said:
Is there a way to remove my name as a co-signer with an active account, other than doing a re-finance ?
9/28/2006 1:23:30 PM
d. said:
HOW LONG SHOULD YOU WAIT TO REMOVE SOMEONE AS A CO-SIGNER FROM A LOAN.
5/16/2007 10:06:08 PM
Pilar said:
Is there a way to remove my name as a co-signer with an active account, other than doing a re-finance ?
8/14/2009 6:05:25 PM
jackson said:
what procedure do someone take in a fraudulent case concerning a student loan. This person has cause my credit to become bad with 185 late payment.
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