If you have co-signed on a loan, or someone has co-signed on a loan for you, then the co-signer is as liable for the debt as the primary signatory on the loan.
What we have heard more and more of though is threats against "references". Back in the days of "Ozzie and Harriet" who spoke for you at your local bank carried weight. If someone was prepared to speak for you, to be a reference, then you stood a good chance of getting a loan. Those days, are for the most part long gone. "Name of a relative not living with you" is really asking, who can a debt collector call to try to find you if you default.
A Reference has no obligation - none at all - when it comes to the collection of your debt. If you have a debt collection agency threaten action against a reference, then you are dealing with someone who is a part of the bottom of this industry, and you should immediately ask for proof of the debt.
We are seeing a wave of reform in the debt collection industry, and welcome it. When we hear about old strong arm tactics making a resurgence, we have to grimmace and say... two steps forward, and unfortunately one step back..
Till next time.
Collectivity LLC
Tampa Debt Collection Agency
8875 Hidden River Parkway, Suite 300,Tampa, Florida, 33637 Telephone:813.792.8030 Fax: 813.792.8609 E-mail: mlevinson@collectivityllc.com
www.collectivityllc.com
