@daisyduke wrote:
My brother co signed a car for his girlfriend. They have different addresses. She didn't make the last payment and the auto loan went into CO Status. HE knew nothing about the account until recently.
What I don't understand, is if he co signed for the auto loan, wouldn't' the finance company at least try to make communication with him? call him, send him a letter. He never recieved anything.....
Communication is sent to the address on file, unless the letter comes returned by usps. Since this was a last pymnt remaining the finance company probably placed the account in a very low risk bucket thats why your bother may not have been contacted. These are just assumptions on my part, because as far as I know where I work, we would have tried to find good contact information for the co-borrower and contact them as well.
Sorry to hear that but now your brother is going to have to live with this CO for the next 7 yrs. The good thing is that its a pretty small figure so it can be easily explained in any manual review.
Starting Score: 682 EQ, 663 TU