Legal Question in Credit and Debt Law in Texas
Removing a name from an auto loan note.
If an auto loan is issued in two names, and there is a break-up in the relationship, can one of the people have their name removed to avoid debt responsibility? If so, how can this be done?
Asked on 4/06/00, 4:11 pm
1 Answer from Attorneys
Earl Bentley
Earl Bentley & Associates
Re: Removing a name from an auto loan note.
The debt responsibility was created by contract. Therefore, to have one responsibile party removed from liability requires an amendment to the original contract. An amendment will be effective only if all of the original parties to the contract agree to the amendment.
Answered on 4/20/00, 10:38 am