Re: I was co-signer... He filed Bankruptcy! & Nelson v. Chase

Posted by JR (64.12.96.205) on October 16, 2002 at 01:56:02:

In Reply to: Re: I was co-signer... He filed Bankruptcy! posted by pete on October 15, 2002 at 22:11:29:

You've missed a couple of things in your reading of Nelson.

First, the ruling of the Ninth Circuit in Nelson DOES NOT go to whether or not Nelson wins his lawsuit against Chase. Nelson makes it clear that a consumer may sue a FURNISHER of information, which, previously, has not been done.

If you read the case you will see that Nelson was dismissed in the lower court for failure to state a cause of action. That decision to dismiss was made because the court interpreted the FCRA as not providing a cause of action against the furnishers of information. (Chase)

What the court did was reverse and remand. That means that they reversed the dismissal of the lower court and sent it back to the lower court for a decision based on the facts of the case.

Furthermore, Nelson made the payments and kept the account current. It never got delinquent.

Maybe Tammy could argue that she should have gotten notice of the delinquency and have had the opportunity to keep the account current, but Nelson v. Chase does not help her.

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