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Can I be the cosignor on a credit card just for 6 months?

Date: Mon, 09/17/2018 - 22:46

Submitted by Marian.thomas
on Mon, 09/17/2018 - 22:46

Posts: Credits: [Donate]

Total Replies: 4


Can there be any clause in the loan while cosigning that I can be there just for 6 months and after that it won't be my liability if the debtor doesn't manage the credit cards properly ?


Not to my knowledge. However, while taking out a loan, you can clarify this with the concerned financial institution.
What I know is that later, after a certain time, you can remove your name but that may not be an easy affair.


lrhall41

Submitted by Ryan Miller on Wed, 09/19/2018 - 03:17

( Posts: 249 | Credits: 2769 )


Lender won't agree. I haven't met any such lender till date. Trust me. Why would a lender agree? I wouldn't have agreed in his case. In fact, I wouldn't have issued a loan if the cosignor doesn't have any confidence on the debtor.


lrhall41

Submitted by David Martin on Thu, 09/20/2018 - 00:26

( Posts: 394 | Credits: 3933 )