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Underlay communication enhances spectrum efficiency by enabling devices to share the same frequency band as the cellular network, thereby facilitating device-to-device (D2D) and sidelink communications. Underlay communication faces a critical challenge from the co-channel interference (CCI) from concurrent signals in the same channel. However, many underlay and sidelink studies neglect to address effective cancellation methods or propose complex concurrent models. In this paper we proposed two co-channel interference cancellation (CCIC) methods, trading off between computational overhead and interference resistance, that both cater to more general and challenging scenarios. The simulations show that both CCIC methods achieve lower bit error rate (BER) allowing for operation at lower power by mitigating interference from overlay communication.