Ask Me Help Desk - Who is a Co-signer?

Relative was joining multi-level marketing company and asked if she could use me as a potential co-signer, if needed. She completed the application and put my social security number on the application, along with contact information if I was needed as a co-signer. I was never contacted and did not sign any document giving the company the right to include me as a co-signer. The applicant defaulted. I never received notice of the default. Subsequently, the company sent info to credit bureau on both the relative and me. What can I do to have this removed from my credit report since I did not sign a document? Does Georgia have a Fair Credit Act or any regulations?

Quote:

Originally Posted by wealthyplace

Subsequently, the company sent info to credit bureau on both the relative and me. What can I do to have this removed from my credit report since I did not sign a document? Does Georgia have a Fair Credit Act or any regulations?

Hello wealthy:

I don't know if Georgia has an act that protects consumers, but the feds do. It's the "Fair Credit Reporting Act". You can certainly cite the act in the letter I'm going to recommend you write. Certainly you can quote civil tort law too.

Write this letter saying exactly what you told us. DEMAND they remove any derogatory remarks from your credit reports. Tell them you are going to challenge the remarks with the credit bureaus, and if it is NOT removed when the credit bureau makes their inquiry, you'll sue them. Send the letter certified, return receipt requested.

excon

Why did you supply them your social ?
And did they "sign" your name for you perhaps ?

You need to check to see if this is on all of the credit reporting agencies or just one at ths time ( run a credit check on self though all of the three major ones)

Write them a letter disputing the listing of this, and ask them to remove it.

Write the multi level marketing company and inform them you are not a co/signer and that you are not responsible for the debt.

Write your friend and tell them you need them to take care of this debt since it is now effecting you