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My daughter was engaged and she got a loan for a new car for her fiance'. He is a co-signer on the loan also. Since then, they have broken up and he is having trouble making the payments on time. we told him to re-finance it, but his credit is not great and nobody will co sign for him. What do you suggest to get her off the loan. What are our options.
You have a few options, but all are unfortunately not what you will want to hear. I'm sorry your daughter is in this predicament and hope she has learned the lessons of co-signing. If he is unable to re-finance it and not willing to hand the car of to your daughter to pay the loan, then I am afraid your daughter's credit is just going to have to suffer. If you are up for it, a lawyer may be able to help force a sell on the car or get your daughter possession of it. I wouldn't recommend paying the loan though while he still has the car. |
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