™Your Policy Risk Impact Agent
114 chapters · 762 sections in this title.
Mich. Comp. Laws § 445.271 Definitions.
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Sec. 1. As used in this act: (a) "Adverse information" means information indicating that the cosigner has not complied with the contractual provisions of an obligation. (b) "Collection action" means requesting a cosigner to pay all or part of the obligation. (c) "Cosigner" means …
Mich. Comp. Laws § 445.272 Reporting adverse information about cosigner; notice; response; prohibition.
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Sec. 2. (1) Before reporting adverse information about a cosigner to a consumer reporting agency as defined in the fair credit reporting act, 15 U.S.C. 1681-1681t, concerning the obligation that was cosigned or providing any information regarding the cosigner's obligation to a co…
Mich. Comp. Laws § 445.273 Action by cosigner; notice; statement; resolution.
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Sec. 3. (1) A cosigner who suffers loss as a result of a violation of this act may bring an action to recover actual damages or $250.00, whichever is greater, together with reasonable attorney's fees. (2) Not less than 30 days prior to bringing an action as provided in subsection…