If I stupidly put my name on my ex-boyfriend’scar registration and loan, how can I get off all of this?

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If I stupidly put my name on my ex-boyfriend’scar registration and loan, how can I get off all of this?

I just ended our 7 year relationship. I understand I am at fault for allowing this to happen but I need some advice to get out of this. He already put me in $12,000 of debt which I paid off myself. Now I just found out that his registration was late and he owes $216 and it’s in my name. Also, he still owes on his loan until 2013 and it’s too much stress. I want to be done with this whole mess and have him out of my life. Any advice or am I stuck?

Asked on April 21, 2011 under Bankruptcy Law, Rhode Island

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Unfortunately, there is no way to get off the loan unless either (1) the loan is paid off (or at least refinanced) or (2) ALL parties to the loan agree to let you off it. Not only is it very unlikely your ex-boyfriend will agree to release you, there's also no reason the bank or other lender would--after all, as long as you're on the loan, they increase their chance of getting paid and have another person to sue, if worse comes to worse. There's nothing in it for them to release you. But since a loan is basically contract, it takes the agreement of all the parties to the contract to alter or amend it, including by releasing a party from its liability or obligations. Therefore, there probably is no way to get off of this loan, since it's in no one's interest but your own that you do.


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