How do you your name removed from a car loan as a co-signer?

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How do you your name removed from a car loan as a co-signer?

I recently co-signed for a car loan for a close friend of mine, well I thought she was my friend and she has recently start getting toll violations and I keep contacting her so that she can pay the bills but she has since stop answering the phone and replying to text messages. Now I today I get a letter for a collection company about the the toll violations and I am in collections for the fines that she didn’t pay. I need to get in contact with her because I want her to pay the fines and refinance her car in order to take my name off the car. So I want to send her a certified letter of letting her know I will report the

car stole if she doesn’t take care of these fines and also letting her know I would like for her to refinance her car because I don’t want any type of violations on my me. Would that be a good idea. So I hope that my situation made sense. I just got burned my someone that I thought was a close friend.

Asked on January 30, 2017 under Accident Law, Texas

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

If you report the car stolen when it is not--when you know it is with a co-owner, who has the right to have and use it--you will have committed a crime: filing a false police report. You could face charges and/or be sued by the other owner if you do that; do not do it.
You can't remove your name unless the financing is paid off or refinaned, and you can't force to refinance: one owner has no right to make another owner refinance, etc.
What you can do is sue her for any and all costs she caused you to incur, such as the cost of her finesand violations. That may convince her to, going forward, honor her obligations or refinance. So suing her for your costs and losses, then hopefully using that as leverage to get her to change her behavior, is your option.


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