If a person takes out a car loan from a bank with a cosigner, can the cosigner make the bank call the note? The payments have never been late, but the cosigner is trying to get off the loan to cause the borrower to lose the car.
A co-signer or guarantor on a note cannot force the lender to call the loan unless the loan is in default -- past due or otherwise. If you are the borrower, you might consider contacting the lender to see if it is willing to release the co-signer from liability, based on your good repayment history, assuming that your financial situation and other credit history supports that decision.
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A co-signer or guarantor on a note cannot force the lender to call the loan unless the loan is in default -- past due or otherwise. If you are the borrower, you might consider contacting the lender to see if it is willing to release the co-signer from liability, based on your good repayment history, assuming that your financial situation and other credit history supports that decision.
