Legal Question in Consumer Law in Maryland

co-signer of car

Gentlemen/Mesdames,

In January 2006, I co-signed a note for my grandson for a 2006 car. He missed two payments in 2006. I paid them, to keep our good credit.

I wish to somehow get my name off the title. Or at the very least some direction - I cannot go throught 4 more years of worrying about if he's making the payments or not. We are not youngsters - valuable lesson learned. Please advise. If we have to, will buy the vehicle and resell it - we have excellent credit and wish to keep it that way.

We don't want the vehicle to be repo'd. This situation has put our lives on hold. Many sleepless nights for me.


Asked on 1/24/07, 10:14 am

1 Answer from Attorneys
Lawrence Holzman Holzman Law Firm, LLC

Re: co-signer of car

Sorry you learned this lesson the hard way. YOu should talk to your grandson and see if he can refinance the car himself. There are many places on the internet that offer such refi's for cars and he may be able to do it now that he's had the car for a bit and payments have been made (albeit made by you).

If it can't be refi'd by him, then you may want him to sign over the title to you, sell the car and pay off the note.

If he won't sign over the title, that's a bigger problem .. hopefully he won't mess up his own family that way, but unfortunatley that does happen.

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Answered on 1/24/07, 11:34 am


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