Can My husband take off his name as a Co-Signer for a car

Question

My husband's ex needed a car and when they were together he decided to be the Co-Signer, now that were married and 3 kids later, if she doesn' t pay a payment (misses one) how does that affect us and Can he Take his name off as the Co-Signer Now!!!

Answer 1

He was a signer because she had already wrecked her own credit I doubt that the bank wants to try to make her float by herself. If he has his name on the title and kept a key go get the car and sell it before she lets the insurance drop and has a accident thereby making him libal for that also.

Answer 2

The only way his name can be removed is if the loan gets paid off.  He would then have to take the title to the Dept. of Motor Vehicles and sign off on it.

If she stops paying or allows the insurance to lapse, they will approach him for payment & coverage.  If no one pays....it will affect all 3 of you and your credit rating.

Answer 3

not unless the car is paid  off and yes it will affect your husbands credit if she fall behind on payments