What canI do to take off my name of my ex-boyfriend’s car loan?

UPDATED: Aug 23, 2011

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What canI do to take off my name of my ex-boyfriend’s car loan?

My ex-boyfriend and I bought a car last year. We are not together anymore. He doesn’t pay the loan payments on time yet he’s the one who drives it. I told him to refinance it so it can be just in his name buthe doesn’t want to. What can I do? The bank keeps calling me; he doesn’t care.

Asked on August 23, 2011 Virginia


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

The problem that you are now in is due to the fact that you are a co-obligor on the loan for your former boyfriend's vehicle and he is not making any payments on it. The result is that your and his credit rating is being damaged.

You can ask the current lender to take your name off the loan for the car, but it is under no obligation to do so. The best way for you to get off the loan is for it to be refinanced by your former boyfriend but most likely that will not happen.

If you want to protect your credit and have the money, you can pay off the car loan, get a written assignment of the loan from the lender and repossess the car as if you were the lender. You could then auction off the car and depending whether it sells for less than what is owed, sue your former boyfriend for a deficiency on the loan.

Unfortunately you have learned a hard lesson about being a co-signer for a loan.

Good luck.

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