If a student loan taken out by my parent without my knowledge, what can I do?

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If a student loan taken out by my parent without my knowledge, what can I do?

My father took out a student loan without my knowledge. He forged my signature on the promissory note and on the check. I had no knowledge of this until I checked my credit yesterday. It is for $39,000. My father has stolen my credit card in the past and has used my brother’s account information as well. On top of it all, he always makes payments late and has been visited by the repo man on numerous occasions. So I am asking what I can do. He is my father, so this is a very difficult decision. I don’t want him in trouble but I don’t want him to get away with it by not paying or doing this again

Asked on August 14, 2012 under Bankruptcy Law, New York

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

I suggets that you speak with your father face to face about the subject that you have written about as to the best way to resolve it where you do not end up being on the hook having to pay back the $39,000 student loan that you did not receive any of the proceeds of. I suggest some written promissory not be made out to you signed by your father for the $39,000 with interest on it where you get monthly payments from him. With the monthly payments you receive, you end up paying down the $39,000 loan yourself and manage that account on your own. 


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