Had a collection show up on my credit report

[bemebeu]

Tenn (only U.S. law)?

My son whom I have not seen in some time defaulted on a car loan I co-signed for. I was not aware of the default until the credit agency reported it on my credit report. I was not contacted by the agency that had it nor did I receive a letter from the agency that listed it. I found out about this by one of my credit card companies lowering my limit due to this listing.

I know I should have followed up in some way but I could not find my son to see. I am sure there were things I should have done to follow this co-signing but I have this hit to show me each day what I should have done.

But, my question here is can an agency list a debt for collections without first contacting me. I know they had my address and phone number but I got no communication, either by mail or phone?

I know nothing about the credit reporting laws or the collection laws- but I am a bit concerned that they can list without contacting me?

I am in the process of now contacting them to see what has happened and as to why they did not contact me- I was just concerned about the law in regard to something like this.

Also will an agency that has listed a collections deal with a pay off offer for less then the amount owed? I would try to pay but I can not pay the total amt due. I also wonder why they did not recover the car from him? Many legal issues I must now look into?

Thanks for listening and any help would be accepted and appreciated
ThanksWhat is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?

[Zigner]

Originally Posted by bemebeu

But, my question here is can an agency list a debt for collections without first contacting me.

Yes

Also will an agency that has listed a collections deal with a pay off offer for less then the amount owed? I would try to pay but I can not pay the total amt due.

Ask them...