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I am a co-signer along with my younger brother to get him a car. He keeps getting tickets and is a month behind on his car payment. I need to get my name off this loan. He is probably 1 year and a half from paying this car off. He doesn't have any credit besides this car. Is there a way to get my name off? Also is there any kind of places for him to apply for a loan for someone like him that doesn't have any credit?
I need my name off this car loan!
Your brother can contact with the financial institutions and ask them about this issue. I think you should consult with a financial counselor in this regard. I hope he/she will help you and your brother to solve this problem.
credit
I'm not an expert on this subject, however, dealing with a similiar issue with one of my 'clients'.........the 'client' co-signed for his grandson. His grandson stopped making payments on the car, etc. and the lender came back to the 'client'. I inquired (for the 'client') about gettin his name off the loan. He was unable to because (according to the lender..) "he new the consequences of co-signing and being resonsible for the loan if his grandson defaulted on it." You may want to speak with the lender and possibly see if there is anything you can do.