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Posted in Auto Loans
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Question By
msjess88

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Removing charge of cosign on auto loan
I cosigned a auto loan for my mom with capital one she was late with payments so capital one gave her a option of higher her payment to pay the loan off faster which was in July 2016 the loan is paid fully now I look on my credit it's a charge off I want it off my credit it's doing me no good. If I pay Lexingtonlaw or sky blue will they remove it. I really want to get me a car in a couple of months and I believe this charge off will affect me.

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Top Contributor
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You Co-signed,  you can't remove it. 

Thats the price when you co-sign and someone messes up.

Top Contributor
7923 Contributions
3972 People Helped

When you co-sign, it is the same as if you were to take the loan out for yourself.  A cosigner guarantees that the payments will be made by the borrower or the cosigner will cover it.  It's done, and you have to live with the consequences for now.  Please take the time to read the articles on this site.  The information is very beneficial.

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