Legal Question in Credit and Debt Law in Utah

Cosigner now being defined as debt collector

I cosigned a loan for a friend. I made

several payments to keep the loan

current when the borrower failed to

make a payment. I then told my

friend she needed to pay me back the

money I had paid. She said that

under Title 15 USC section 803 that

because I said she needed to pay me

back I could be defined as a debt

collector (and her the consumer) and

because of this that sections 803

through 819 takes effect and I

cannot contact her or anyone else

regarding the debt. My question is,

can an cosigner/ower on a debt be a

collector also? I was told to look

deeper into the definition of a debt

collector - section 803(6)(F)(ii).

Please advise if I can be defined as a

debt collector and if above laws then

apply. Thank you.


Asked on 6/24/08, 12:16 am

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: Cosigner now being defined as debt collector

Your "friend" is wrong. A debt collector is a 3rd party collector. You are the creditor and do not need to observe any of the elements of the Fair Debt Collect Practices Act. I suggest you just sue your friend for the money you are owed. This is no true friend, but is an educated debtor.

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Answered on 6/24/08, 11:06 am


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