I would rather not have anyone know about this loan. The only living relative that I have would probably get upset and want to know what the loan is for, and its none of her business. What is the purpose for making me list one, and will they be contacted?
2007-10-29 06:03:14 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
No, they won't contact the relative. That's just in case you default and they can't find you. They will call that relative to find you.
2007-10-29 06:07:09 · answer #1 · answered by bdancer222 7 · 0⤊ 0⤋
Most creditors ask for the nearest relative in the even of default... They will have another name or number to contact to get in touch with you. Most relatives know where their relatives are. They may also contact the relative as part of the verification process, but most likely not, and will only use the information in collection or default.
2007-10-29 06:07:23 · answer #2 · answered by iamtooproud 5 · 0⤊ 0⤋
In almost every case, the bank uses this information in the event of default. They want to know someone they can call to find you.....
2007-10-29 06:06:32 · answer #3 · answered by rukidden99 3 · 1⤊ 0⤋
not if you tell them not to. the privacy laws nowadays are very strict, especially with lenders. tell them you would like to exercise that right.
2007-10-29 06:06:02 · answer #4 · answered by ddking37 5 · 0⤊ 0⤋