My question involves an auto loan or repossession in the State of: OHIO
Hi,
My freind bought a car in 2008 , when he was new to country and asked me to co-sign it with him. The car has been financed by car makers own financial institute.
But due to recession my freind lost his job and left the country and the car was voluntraily given back to the company and they have auctioned it and put the remaining balance on us and eventually reported as Charge-off account on our credit report. My freind is no longer lives here but I do and it is affecting my credit scores.
Altough, in my credit report it does mention my responsibility as CO-SIGNER but that doesn't help to reduce it effect any where. I understand that I am equally responsible for repayment as co-signer ,but now I want to remove it and willing to settle it with company , but I just don't want to repay whole amount.
I want to negotiate it with them to just get it removed from my credit report and they can still keep on my freinds report I don't care.
Please advise if there are any fail proof ways of doing that? or can I get it removed from my credit report by any means or are there any firms that help to negotiate and reduce the payment and assure that it will removed from my credit report?
Thanks

