Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Student Loans
Profile Image

Question By
yecats68

0 Contributions
0 People Helped
get off of a cosigned loan
is there ANY possible way to get my name off of my daughters school loan? i cosigned years ago and she never makes payments on time,,,,lots of times 90 days or more late. sadly, we do not speak these days. ive asked her several times to refinance to get me off but she said she cant cause her credit is bad.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
861 Contributions
317 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

Some lenders — particularly student loan issuers — have a release option for co-signers, according to the Consumer Financial Protection Bureau. A release can be obtained after a certain number of on-time payments and a credit check of the original borrower to determine whether he or she is now creditworthy.

Most lenders don’t let borrowers know if or when they can obtain a release; borrowers have to seek out that information themselves. The CFPB offers a couple of sample letters to lenders requesting a release.

Other than that I don't know. Never, ever, ever co-sign on a loan unless you're willing to accept the full burden of payments.

Top Contributor
1934 Contributions
3080 People Helped

Helpful to 0 out of 3 people

send your daughter the "Total Money Makeover" by Dave Ramsey maybe she can get her act together. 

You are stuck until the student loans are paid off.   There should never be an option to Co-Sign for anything.  

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.