Legal Question in Credit and Debt Law in Pennsylvania

If you only co-signed, then who else's name is on the title? If it is your name, then chances are you are a co-borrower, not a co-signer. I would need to see your papers to know for sure, but you need to look over the loan papers again.

If you are a co-borrower, then you cannot get your name removed. Even if you are only a co-signer, the answer is the same. There is no way that a lender is going to remove your name from the loan after only 1 month.

What do you think co-signing means? Its more than just sticking your name on. It says to the lender that if the primary person (here your relative) does not pay, then you promise to do so. So asking to remove your name after 1 month smacks of fraud. I am sure that you and your relative did not intentionally intend to defraud the lender by inducing them to extend credit to your relative under false pretenses, right? And if your relative or anyone else needed a co-signer, that meant one of two things: (1) either he/she had lousy credit or (2) he/she had no credit. In either case, you did not want to co-sign at all.

The only way to remove your name from the loan is for either the lender to consent (which is not likely here) or for your relative to refinance the car solely in his or her name. If the relative succeeds, I would get your name off of the title unless you contributed money towards the purchase of the car because of the liability.

You ask if you can have the car sold. Why? Is your relative making the payments? Is the car new or used? How likely is it that with soaring gas prices you are going to find someone who wants a gas guzzling Chevy Tahoe? And even if you find a buyer or another car dealer will buy it, you are not likely to get the full balance of what you owe on the car.

If your relative is not making payments, see if your relative is willing to sign over the title completely to you. Then do the best you can in terms of selling it. However, you will need to keep making the payments on the car or roll any balance over into the finance of another car.

If your relative will not make payments or give you the car back, I am not sure what you can do. While you could partition the car, it is being financed so that will not work.