Legal Question in Consumer Law in California

Cosigner on note

I have cosigned on a vehicle note, is there any way I can have my name removed. I cannot locate the original borrower.


Asked on 10/01/01, 2:59 pm

2 Answers from Attorneys
Ken Koury Kenneth P. Koury, Esq.

Re: Cosigner on note

No.

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Answered on 11/07/01, 11:08 am
Ken Koenen Koenen & Tokunaga, P.C.

Re: Cosigner on note

Depending on what is owed on the car, you may want to pay off the loan and obtain the "pink slip". Then, track down the car through DMV records, etc. and reposess the vehicle and sell it if the other borrower does not pay the balance plus your expenses.

If the borrower is not paying on the loan, this will affect your credit rating. It is hard to give you more advice without knowing the type of car, the balance of the loan, etc.

Good luck.

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Answered on 11/07/01, 12:10 pm


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