Legal Question in Civil Rights Law in California
co-signer
what if anything can i do to remove my name or the other parties name from a contract that i cosigned on? she is not keeping up with the payment & i really dont want her to ruin my credit.
Asked on 9/05/07, 11:45 am
2 Answers from Attorneys
Michael Meyer
Law Ofc. Of Michael J. Meyer
Re: co-signer
That's the point of a co-signature. You are on the hook if the primary obligee doesn't pay.
To remove yourself from the contract, you might begin by negotiating with the company to whom the debt is owed. They may agree to terminate the contract upon the payment of some penalty.
Answered on 9/05/07, 11:55 am
Terry A. Nelson
Nelson & Lawless
Re: co-signer
Nothing. That's the risk of co-signing.
Answered on 9/05/07, 2:14 pm
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