Legal Question in Consumer Law in California

I financed a truck in my name with one other person. I was going to return the truck to the finance company because i can no longer afford it. But the 2nd party on the loan would like to take over the truck without refinancing the vehicle (2nd party has bad credit now). How can I release myself from the financial responsibility of the truck legally Is there a release of liability we can both sign to protect me in case the 2nd party defaults on the payments.


Asked on 6/05/11, 10:45 pm

1 Answer from Attorneys
Joe Marman Law Office of Joseph Marman

You will not be able to release your self from further liability. You are stuck and you will have to hope the co-signer does not default on his payments.

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Answered on 6/06/11, 8:09 am


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