Has anyone removed student loans from Credit Report through fraud?

[techentrepreneur]

From what I understand you have to open a fraud case with the respective lender to get them to start the process of removing the loan.

 

The issue is, my parents cosigned my name on a student loan fraudulently and used my being in school as the scape goat to get a private student loan. Now it is reporting on my credit and preventing me from qualifying for other financing based on debt to income ratio.

 

The statute of limitation for fraud is 6 years in my state, but I don't really want to risk them getting brought to court by this private company. I don't know if they would even open an investigation especially if the loan is being paid on time and I'm just a cosignor.

[LynnInMN]

Forgery is a crime. Did they also forge your name on the checks when they arrived?

 

If you want this off your credit you will have to file a police report stating that your signature was forged. Even though you may not choose to implicate your parents, the lender can track down who's account the money went into.

 

My suggestion is to talk to your parents now. Give them the chance to pay this off or they will suffer the consequences of their action which can involve jail time and big penalties. It is your choice...either deal with the credit implications or turn them in. This may seem harsh but they had no conscience when they forged your name....

[techentrepreneur]

Well it's been more than 6 years, they declared bankruptcy and the loan was charged off (what the heck), but now it shows as a negative on my report, to get the whole loan removed and the charge off I'd still have to file a police report correct? But since the statutes of limitation has expired I'm guessing they couldn't be prosecuted by the state?

[IndyPoolPlayer]

Being a cosigner on a loan means if the borrower defaults or in the case of your parents declare BK, you're on the hook for the loan. Period. The statute of limitation of six years is for collecting the debt. I don't know what the statute of limitation is on a felony such as forgery. Was this student loan used to pay for your educational expenses?

[LynnInMN]

Student loans are non dischargable in Bankruptcy. Doesnt matter if they are private or federal. The reporting time period would have tolled during the BK. What are you suing as

grounds for start date of the six years. When it was borrowed or when it defaulted? In school deferment periods do not count towards the 6 years. Who was the lender? Were you in school? Or did they lie?