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Debt Collections Issues involved in the collection of debts, including car loans, student loans, credit cards, judgments and medical debts.

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Old 08-10-2005, 11:05 AM
hallenkelly hallenkelly is offline
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Location: Michigan
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Default Co-Signers and Delinquent Payments on Credit File
My father co-signed for my brother on a car and every time my brother is late on a payment, my father is notified and makes the payment. My question is this - isn't there a michigan law that protects the co-signers credit history by notifying the co-signer of the late payment and giving them the opportunity to pay the account without the late payment reflecting late on the co-signers credit file?
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Old 08-10-2005, 01:20 PM
aaron aaron is offline
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Default Co-Signer
Not that I am aware of. That would normally be a contractual issue between the borrower, cosigner, and lender.
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