Law-Forums.org

[kirklin]

While I was in college in CT and wondering how I was going to pay for the semester, or drop out because I couldn't get another loan, my father was back here in DC getting one in my name, without my consent nor knowledge.

It wasn't until I came home last year, looking for a job, that I found a letter from Wells Fargo demanding that I pay the entire lumpsum amount of some 2 thousand dollars or so, or else face legal action. The loan debt is in default. They called and told me that it has to be paid. I didn't know what the hell Wells Fargo was talking about, because I didn't remember ever taking out a loan from them -- then they told me it was also under my father's name. Then I knew it was him who took it out.

I asked them if I could get a forbearance or deferment on the repayment, and they told me flat out 'NO, it's a private loan, you can't get any break until you pay this whole amount". I told them that I obviously didn't have a job at the time and was completely unable to pay it, and the only payment option they offered me was to pay 1500 dollars immediately. How the hell would I do that? So I didn't because everyone in my family is extremely poor, no one has anything, my father is going into bankruptcy and about to lose his house, and I already have bad credit and struggling -- how the heck was I supposed to pay it off? So, I didn't pay it at all.

Now, a week ago I received a letter from someone claiming to be an attorney at a law firm here representing Wells Fargo, and telling me to pay the bill or something else I don't remember. The letter had both my father's name and my name. What in the world will this to do me? Is Wells Fargo suing me for being in default with them and not being able in any capacity to pay them? They're going to sue me for being poor and destitute?

I'm really pissed off that my father has done this to me behind my back, even though I know he did it with best intentions; he did not want me to have to drop out of college so close to getting my degree (which I had to do anyway because I couldn't pay for the last two courses I needed to complete the degree (so close!)), and it was completely fruitless. So I'm in all of this debt to them, a total of some 30 thousand dollars just to Wells Fargo alone, was the loan amount he'd taken out. He didn't even seem to have bothered to look at the fine print that shows there was no chance of getting a deferment or forbearance with the kind of loan he took out.

Now, I'm trapped, and it's not even my fault. This legal action against me by Wells Fargo, I don't even know what to tell them. I don't want my father to be sued, but I also don't want to take the fall for his foolish mistake that he did, knowing there would be long-term consequences...I'm just so frustrated by this situation. My father is 80 years old and it didn't seem that he had thought about the debt he was putting on me. I'd much rather had dropped out than be left in this situation.

I want to go to law school at some point in the future, and don't want something like this to be in my history going against my character or fitness because I have a massive debt that I've defaulted on.

So, what should I do?

[laureano97]

If you didn't sign the loan application, you aren't liable.

Ask them to send you the proof documenting your liability for this loan. Just because they say so isn't enough.

Give them absolutely no other response than "this loan is not mine. I did not sign for it. I did not approve it and I will not pay it."

See if their tune changes.

You can demand that they stop contacting you about the loan.

Check your credit reports -- if this loan or anything else appears on them, demand (to the credit agencies) that they remove them as not belonging to you.

The hardest part -- if your father committed fraud -- you may have to press charges against him to push your position to the fullest extent allowed by law...unless you think he is incompetent.

The bottom line is that (assuming you are over the age of 18) no one can represent themselves as you and obligate you for their actions unless you give them power of attorney to do so.

[jabin20]

Your credit is poor so a bankruptcy want hurt you at all. Reminder student loans can't be discharged in bankruptcy. Bankruptcy laws varies state to state. When you get a chance you need to finish school and get that degree. I wish you luck.

[nann]

one "what"?

[chansomps]

if he forged your name you are not responsible for the loan no matter what.

[bedyw25]

What a mess. I'm sorry your Father got you into this, I'm sure he had good intentions, he didn't want to see his daughter drop out of college, but he screwed you over without knowing it.

You really only have 2 options:
1. Pay the debt
2. Report your Father for identity theft.

The simple fact is that your Father committed a crime when he signed your name. If you aren't willing to report him for this crime, then you cannot get out of the debt without paying it.

Your best option might be to confront your father. Show him how bad this is screwing you over. You might even go as far as to threaten to report him. Right now he should be working 3 jobs and selling the shirt off his back to pay this debt, because if he doesn't, one of you is going to suffer. Either you get hit with a judgment, or he gets convicted of identity theft, there's no happy medium, and you have to decide which one its going to be.

You could technically get out of the debt by filing bankruptcy if you are really unable to pay, but that certainly won't help your credit.

[amdt57]

Ok, calm down. This is not the end of the World. I know 2k sounds like a lot right now, but believe me, to Wells Fargo this is nothing. They are not going to come hunt you down.So, Somehow your name is on this debt. Ask for a copy of the original loan with your signature. If you can't get this taken care of the worst that will happen is they can garnish your wages or get a judgment. I'm confused about the additional 30k though. You and your Dad need to have a good sit down and clear all of this up.