Credit demands to my address...but not in my name?

We recently agreed to have our friend use our address for mail forwarding as he has moved out of the country. It seems though that he has left behind thousands of dollars of debt to financial companies including cars, credit cards etc.

I'm now getting concerned that as the demands for payment intensify, we will start to have collectors knocking on our door or trying to take property from our house (or my car) in payment...they haven't strictly told us in any correspondence that they will do this...but if they wanted to...can they legally do it???

Unless your friends name is on your property, (or car, etc), then they can not show up and just "take" your property.

They are looking for your friend, and not you. They will not show up at your doorstep looking for him either. They have too many people that they are looking for, to take the time to physically visit each and every one.

They might , however, start calling in an effort to find him.

Your best bet, is to return the mail, unopened, to the people that sent it. Just mark "No longer at this address", and they will eventually stop sending.

It is definitely possible for creditors to contact you. They will ask you where your friend is. But it is illegal for them to repossess your property to pay off his debts if his name is not attached to it as well. I mean think about it, if you were renting a house and defaulted on a loan, do you think the bank would repossess the house to pay off the loan? No, because it isn't your's to take away.

no they cannot take anything from you as you are not the person who owe them money. even if your friend was living with you they would only take whatever he owes i.e his car if he bought it from them. so dont worry and carry on with your business as usual.