Lender behavior

[j_singleton25]

What is the name of your state (only U.S. law)? Louisiana

Hi, I don't know if this is the right place to find the info I'm looking for, but here goes. I recently had some discussions with the collections officer at the credit union I have my truck loan through. I won't get into details, but lets say it got pretty heated. Apparently she was offended, complained to her boss, they contacted my father who is the cosigner, and told him that they will only deal with him from now on, not me! Can they do this? Also, one of the things that started the whole mess, I was a couple months past due on my payment, I spoke to the collection officer, and we agreed that I would make a partial payment on friday. My father just happened to be at the credit union making a deposit in his account before I got there, and they brought it to his attention that my account was past due, and got him to pay it. Can they do that even though I had already worked it out with the collections officer?

[HomeGuru]

Originally Posted by j_singleton25

What is the name of your state (only U.S. law)? Louisiana

Hi, I don't know if this is the right place to find the info I'm looking for, but here goes. I recently had some discussions with the collections officer at the credit union I have my truck loan through. I won't get into details, but lets say it got pretty heated. Apparently she was offended, complained to her boss, they contacted my father who is the cosigner, and told him that they will only deal with him from now on, not me! Can they do this?



**A: of course they can. Read the loan agreement for a clause titled joint and several liability. You must have pissed them off so bad that they do not wat to communicate with you. Good going.


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Also, one of the things that started the whole mess, I was a couple months past due on my payment, I spoke to the collection officer, and we agreed that I would make a partial payment on friday. My father just happened to be at the credit union making a deposit in his account before I got there, and they brought it to his attention that my account was past due, and got him to pay it. Can they do that even though I had already worked it out with the collections officer?

**A: yes, read joint and several liability.

[j_singleton25]

Hey, thanks for the info! Just wanted to know where I stand. I'll take your word on all the legal stuff, if I could understand that stuff I'd probably never want to sign anything! I guess unfortunately it's necessary to word those contracts so that not only would it take a day to read it, but also a law degree to understand it! Anyway, thanks again.

[HomeGuru]

Originally Posted by j_singleton25

Hey, thanks for the info! Just wanted to know where I stand. I'll take your word on all the legal stuff, if I could understand that stuff I'd probably never want to sign anything! I guess unfortunately it's necessary to word those contracts so that not only would it take a day to read it, but also a law degree to understand it! Anyway, thanks again.

**A: well, those contracts were written by attorneys.

[bigun]

When you have a cosigner involved, his credit rating is on the line as well yours. You really needed to let your father know about your inablity to make payments before you got those lates plastered on his report.