Currently we send the Past Due Notice to the primary borrower. If you elect to put the Notice of Negative Info on the past due notice and "turn on" notices to now go to the primary borrower, coborrower, cosignor and/or guarantor, is there a problem? My concern is if a customer has been past due 3 times over 30 with a past due notice only going to the primary borrower and is now over 30 days past due for the 4th time and we notify everyone but his dog. Does anyone have an opinion on this?

Why aren't you sending it to everyone from the beginning? As a cosignor for my son's loan, I'd want to know right from the beginning that he was late on a payment. It's not right to have the first time I hear of this be the time you expect me to immmediately write out a check to keep it from going into foreclosure!

I totally agree. This would allow us to kill two birds with one stone, but other than "turning on" the notices to go to all parties involved, is there anything else to do?

Make sure the negative info notice is on your past due notice and send it to all parties.

I'll bet this not only gets you in compliance but you'll have fewer past dues!