Legal Question in Consumer Law in Illinois
FTC says: The creditor can colect this debt from you (co-signer) without first trying to collect from the borrower. Is this true in Illinois about a co-signer for a car?
May I have this concern/question free, please. Thanks!
Asked on 12/04/10, 11:43 am
1 Answer from Attorneys
David Labovitz
Labovitz Law Firm, P.A.
That is correct. Most agreements have provisions allowing the creditor to collect from the co-signor without first going after the primary debtor and these provisions are fully legal and valid.
Answered on 12/09/10, 12:49 pm
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