If I’m a co-signer on my ex-boyfriend’s loan, am I able to sue to get my name off

UPDATED: Oct 25, 2010

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If I’m a co-signer on my ex-boyfriend’s loan, am I able to sue to get my name off

I have tried calling him multiple times and talk to him to ask him to do it and he hasn’t yet.

Asked on October 25, 2010 under General Practice, Minnesota


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

Actually, your ex-boyfriend CAN'T let you off the loan--unless he were willing to refinance it (and could refinance it). He's also not under any legal obligation to even try to get you removed from the loan.

A contract, and a loan is a contract, binds all parties. In the case of a loan with a co-signor, there are 3 parties: the signor, the co-signoer, and the lender. All three must agree to any change in the loan; that mean the lender must agree to let you off the loan. And there is no reason for them to agree (and no way to force them to do so--you, after all, voluntarily co-signed, so you assumed the obligation of your own free will). Right now, if there's a default, they have 2 people they could look to for payment--2 people to sue. If they were to let you off the loan, they could only look to your ex-boyfriend for satisfaction, meaning that by letting you off--something they don't have to do--they reduce their odds of being paid. There is therefore no reason for them to do that.

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