What are my options if my son created an account and borrowed school loans in my name without my permission?

UPDATED: Feb 18, 2011

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What are my options if my son created an account and borrowed school loans in my name without my permission?

Asked on February 18, 2011 under Bankruptcy Law, Texas


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

1) You can disclaim the loan to avoid being responsible for it, but that will involve essentially labeling your son a thief; you can expect that if you do this, (a) you may have to fight (take legal action) to get the lender and/or school to accept it (they may feel you're just trying to get out of a legal debt), but also (b) expect that the school or lender will likely report your son for fraud to the police. And (c) your son will owe the money.

2) You can accept responsibility for the loan, then sue your son to force him to pay you; this would probably avoid having him reported to the police, etc., as long as the suit is just between the two of you.

3) You can pay the loan and either accept the loss or work it out with your son some other way--maybe he pays you in installments, maybe you take it out of what he'll inherit (if there would be an inheritance and you have somewhere/someone else to leave the money), etc.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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