Is it possible to remove myself from an auto loan that is jointed if the other party wishes to take full responsibility?

I am on a auto loan with my boyfriend and he hasn’t paid for a few months because of some financial issues but he’s getting back on his feet and is willing to start paying but I do not want to be on the loan and he is willing to take full responsibility for the loan, if possible is there anyway that I can have my name removed from the loan, the truck is not mine and is not in my name nor is it insured in my name. Is it possible with out filing for bankruptcy? This has destroyed my credit and I can’t even get myself a car loan because of the truck loan.

Asked on July 26, 2012 under Bankruptcy Law, Massachusetts

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Unfortunately, to be released from a loan, you need the consent, or agreement, fo all parties to the loan--which includes the bank or financing company. Unless the bank or financing company agrees to release you, you cannot be removed, and while you can certainly ask them, there is no reason for them to agree to this--removing you from the loan halves the number of people they can look to for payment, so it is very much against their interest to release you.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.