Can a bank disclose loan information to the parent of an adult child?
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Can a bank disclose loan information to the parent of an adult child?
I am 34 year old and have a loan for a travel trailer with a bank whose VP is a friend of my fathers. I am the only one on the loan and fell behind 2 months, I have not received any notices ( I had a baby and it slipped my mind to pay) and I just received a call from him yesterday. I called back and left a message and then received a call from my father saying he was contacted by the VP and the VP said they may repossess the trailer and I was behind, could he get in touch with me? Is this legal? He even told him that the trailer was behind a gate and claimed he called multiple times.
Asked on May 11, 2011 under Bankruptcy Law, Texas
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
No. I believe that your Father's friend overstepped his bounds here. I am sure that he thought that he was doing you some sort of favor or in some way protecting your interests in discussing the matter with your Father, but is you had been just another customer of the bank rather than the "child" - for lack of a better word - of a freind he would have been violating a right to keep these matter personal and private. Even debt collectors are not prohibited from disclosing certain information under the Fair Debt Collection practices Act. Really here, the bank is a debt collector as well. How you want to handle it is, though, another question.
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