My ex daughter-in-law obtained a loan put me down as a co-signer and defaulted. Now they want me to repay this money. I never signed any paperwork nor gave my consent for her to do this. What can I do?
How long have you known that she did this? Did you file a police report at the time?
I'm not sure what their specific policy is, but most creditors won't act on these types of things without a police report being filed. I'd imagine the credit bureaus are the same way.
Class Action Attorney
I am sorry to hear what you're going through. Unfortunately, this is a common problem. It is estimated that one in four consumers has an error on his/her credit report. If the information being reported about you is inaccurate, you absolutely have legal rights. Federal law requires that the credit reporting agency ensure maximum possible accuracy when publishing your information.
As you probably know, your credit standing can affect your ability to obtain credit. It can also adversely affect your ability to obtain favorable credit terms and insurance or thwart your efforts when applying for a job or rental.
Here is some information about steps you can take if your credit report(s) is plagued with inaccurate information. http://www.ohioconsumerhelp.com/sub/credit-report-errors.jsp. Based upon your inquiry, it sounds like you have already disputed the error. Keep copies of EVERYTHING. And here are the steps we suggest consumers follow with respect to disputes: http://www.ohioconsumerhelp.com/sub/Dispute-page.jsp;jsessionid=22E93264C000505A3C56EEB85198DDB9
Further, since it sounds like your ex-daughter in law compromised your identity, you should report the ID theft with local law enforcement right away. File a report with your police department and complete an identity theft affidavit. You may also obtain an identity theft affidavit at http://www.ftc.gov/bcp/edu/resources/forms/affidavit.pdf. These steps will further help with the credit report dispute process.
Finally, I would encourage you to seek the assistance of an attorney familiar with the federal law applicable to credit reporting (the Fair Credit Reporting Act, or FCRA). Many consumer advocates will consult with you without charge or obligation. This is the best first step in protecting your legal rights, and understanding the protections available to you.
For more information about protecting your rights, like us on Facebook: www.facebook.com/ohioconsumerhelp.com
Good luck to you!!
NOTE: This Answer does not constitute legal advice. Every case is fact specific. To render a legal opinion, an attorney must engage in a consultation with a prospective client and review any pertinent documents. This communication does not create an attorney-client relationship with Attorney Amy L. Wells or WELLS LAW OFFICE, INC.
Ms. Wells has put forth an excellent answer and I suggest that you follow her advice. If you need an attorney in Texas, feel free to contact us, or go to the website of the National Association of Consumer Advocates for someone in the Houston area. www.naca.net
I am licensed only in Texas. Offering information of a general nature in response to a question is not intended to be legal advice in your state.