Michigan · statute · 211 of 1989, Mich. Comp. Laws · 3 active provisions
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 a natural person who renders himself or herself…
(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 collection agency as defined in section 901 of the…
(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 (1), the cosigner shall notify the person alleg…