possible Student loan Forgery

[eastsw]

What is the name of your state? TX

I agreed to co-sign for a student loan back in 04 pending I see the amounts and now I am getting calls about collections and late payments. I have contacted this "friend" and they have been dragging this along for now on a year. (telling me this will be resolved with another co-signed loan from their parents).

My question is: I do not remember signing any paperwork or ever seeing the amounts of these loans. Is there any way I can challenge the authenicity of these loans? What i believe happened is that this "friend" took my information and ran wild with it, applying for large amounts of students loans.What is the name of your state?

 

[Debt Guy]

Your story is not consistent. "you agreed to co-sign" but "you don't remember signing any paperwork". Hmmm.

If you are sued you have the right to contest the lawsuit and require proof that you signed the note. Until then, you can call the lender and ask for a copy of the note -- which they may or may not provide.

 

[eastsw]

Yeah, sorry bout that. What I meant to say is that i agreed to apply, but never saw any promissary note or heard any results. I have recently (last night) received copies of the promissary notes from the lender and the signatures are not mine. There were multiple loans taken out without my knowledge. It seems my information was reused. How should I proceed from here? Do I have any legal foothold?

 

[cvdesign]

Yeah, sorry bout that. What I meant to say is that i agreed to apply, but never saw any promissary note or heard any results. I have recently (last night) received copies of the promissary notes from the lender and the signatures are not mine. There were multiple loans taken out without my knowledge. It seems my information was reused. How should I proceed from here? Do I have any legal foothold?

Are these loans guaranteed through the Department of Education? If so, yes, you most definitely have a legal foothold BUT it will more than likely mean turning in your friend (you will have to prove that your name, info, etc, was forged) who would more than likely face possible jail time, and the entire amount due payable NOW.

Go to:
http://studentaid.ed.gov/PORTALSWebApp/students/english/discharges.jsp
for more information ... the DoE takes it VERY seriously.

As per DoE's website:

Your signature was forged on the loan documents ...
If you believe someone forged your signature on your FFEL or Direct Loan promissory note or authorization for electronic fund transfer, you must attach five different samples of your signature to your application for the loan discharge. At least two of the samples must be on documents that are clearly dated within a year before or after the date of the contested signature. You may not be eligible if the loan was used to pay your school charges for the portion of the program of study you completed (whether the payment was by a credit to your account or by cash or check).

I don't know how this applies to you as you were the co-signer rather than the student ... but it's worth a try.