1 reply to this topic

[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....