Hello, I was wondering if anyone has heard, seen, or done this before. A co-signed auto loan I'm listed on is about to go 30+ days late. Since I antcipate financial loss from this, such as high mortage rates, also my CC companies jacking my interest rate. Can I sue for release from contract and/or for finacial loss from the other party not holding end of contract. Thanks for any help My2kgt
Well, if I were in your shoes, I'd do whatever I could to avoid the 30 day late. If that means coming up w/ a couple hundred dollars, I'd take that over potentially a lot more in future financial reprecussions. After that, I'd go for removal from the contract. Others here may be able to assist w/ that plan. DB
It is as if - you - signed for the loan with the bank (kinda like colateral), so I don't think the other party is empowered to release you from the contract...but "can you sue" them?...I guess you can sue anyone. I do not know the likelihood of any outcome though. I would consult an attorney immediately. It seems like a wise thing to do, were I in your shoes. Good luck. -Peace, Dave
