Can I Remove My Father as a Cosigner On My Student Loans So I Can Build My Own Credit? – Rodell

“Dear Steve,

I’d first like to thank everyone for taking the time for viewing and reading my question- So, I took a student loan out for about 45k back in 05 and I have been very good in paying my loan down, I have not been late at all yet. ( knocks on wood ) with that being said I have about 13k left and i can see the light at the end of the tunnel already. So my question is, since my father co signed for me can I remove him out of this loan that way I can build my credit?

Rodell”

Dear Rodell,

You can always ask them but I bet the answer will be, no. Typically the lender will hold onto the cosigner till the loan is satisfied. But a student loan doesn’t really do a lot to build credit. You are much better offer starting with a secured credit card, which does not put you in debt, and build your credit that way.

Please post your responses and follow-up messages to me on this in the comments section below.

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

Damon Day - Pro Debt Coach

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