Question about a co-sgned loan

[darkfrosty]

About 10 years ago I was talked into co-signing a 17k student loan with my cousin with the understanding that my name would be off it later. Fast forward 

10 years and the loan still owes the same amount thanks to my aunt only paying the 111$ a month payment. This is by far my worst mistake I have ever made

with my credit. She tends to pay the bill 30 days late every month just before they would report it. It is beyond me why she does that but I dont have the means to pay off 

the loan and even if i did i dont think i would. 

About 3.5 years ago she messed up and the late payment got reported and it is the only negative on my credit report. I want to try and get it removed. Basically the reason it got reported was because she made a mistake because the month had 31 days or some BS .. I can never get a straight answer. How can I try and get this removed? The loan is with Wells Fargo.

Thank you

[guiness56]

Since you co-signed, what happens to her credit happens to yours.  You could try and ask Wells Fargo if they would remove it from yours but I couldn't say what your chances are of success.

[darkfrosty]

do i call up wells fargo .. give them the account number and then ask if they would take it off or who i should address the letter to ?

[guiness56]

Yes, address it to Wells Fargo if they are the creditor/lender.

[darkfrosty]

Thanks

[RobertEG]

While not helpful in dealing with past damage, you might contact her an offer to take charge of making future payments, and let her reimburse you.

The pattern seems unlikely to change if she is unconcerned about her FICO score.

[darkfrosty]

Well I went ahead and called Wells Fargo to see what my options are. The only way to get my name off is to either re-finace but the interest rate would double or pay it off. So I am going to talk to my cousin about paying it off instead of letting his mom pay the bare minimum. As far as getting the negative hit off my credit report, the lady said that she will ask me some questions and then submit it. So I am going to call back tomorrow and dispute it and see what happens. I really hope they will take it off since I am a co-signer and really had no knowledge of it.