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In Ohio if you are a co-signer on an auto loan and many payments are late does the bank legally have to notify you when payments are late?


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Wiki User
2015-07-16 19:22:26
2015-07-16 19:22:26

They would only notify the 1st party and not the co-signer.

§ 1309.607. (UCC 9-607) Collection and enforcement by secured party. (A) If so agreed, and in any event after default, a secured party: (1) May notify an account debtor or other person obligated on collateral to make payment or otherwise render performance to or for the benefit of the secured party;

Notice the word 'MAY'???

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