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New Member
uncletoby
Posts: 2
Registered: ‎06-20-2008

Delinquent loan parents took out in my name... how to dispute?

Hello -- slightly tricky situation here, was hoping you wise folks could help.

In 2001, my parents got a "check" in the mail from some company called Beneficial HFC. The "check" was made out to ME, not them, and was some kind of note loan -- cash it and pay back Beneficial in installments. Well, cash it they did, without telling me. They did pay it off, but not without a SIX MONTH stretch of late payments back in 2004.

The loan is paid and closed now, but those delinquencies haunt my credit score. How do I remove them from my report? There seem to be so many approaches on these boards, I don't know which is the best. Do I dispute it with the agencies? With Beneficial? I never signed a thing and the loan didn't even go to my home address but my parents'. I also don't want to get them in trouble or anything, but I want this off my report.

Thanks so much!
Frequent Contributor
momof2
Posts: 476
Registered: ‎03-23-2008

Re: Delinquent loan parents took out in my name... how to dispute?

I could understand that you dont want to get your parents into trouble but them cashing that check which was in your name is fraud. i would dispute with CRA and OC, if they verify it, then send a letter to the OC saying for a copy of the cashed check, then when you get it  in the mail and it doesnt match your signature send that to the CRA's with something that does have your signature on it and that can prove that you never cashed it, let alone recieved it.
FICO2/10=EQ= 564

FICO2/10=6012/10-FACO TU 578;3/10=643
Senior Contributor
Wonderin
Posts: 3,494
Registered: ‎05-25-2008

Re: Delinquent loan parents took out in my name... how to dispute?

Yes, what your parents did was fraud. Possibly most importantly, what they did, since they took your mail/check and cashed it, is considered mail fraud, a FEDERAL crime. Since it was, I assume, against a financial institution, it can carry a punishment of up to $1M and/or 30 years in prison.

I don't know if I'd dispute it ... while I don't think that they would press charges, considering that it's paid, I think I'd write a goodwill request letter and explain the situation (leaving out that it was your parents that committed the fraud -- you never know if the person reading your letter would file a complaint), saying that a family member opened the account, used it, and paid late. And could they please, pretty, pretty, please remove the lates as a gesture of goodwill?

Again, I don't THINK they would take the matter further and complain ... but you never know. Since you're not disputing that it's YOURS (at least, not OFFICIALLY), I think saying that it's not yours and you would like some consideration based on that fact, I would think it would suffice.

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Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!

New Member
uncletoby
Posts: 2
Registered: ‎06-20-2008

Re: Delinquent loan parents took out in my name... how to dispute?

Hey, I figured I'd give you helpful folks an update. After posting here I decided to break down and call Beneficial myself to see what was up. Three Indian call centers later, I realized they had no record of me or the loan in question in their systems. None. So I filed an online dispute with Experian, asking them to remove the loan. Two days later, I just got my email from Experian -- investigation over, loan removed. Let's hope my score gets a nice bounce with those 6 months of delinquencies circa 2004 off my report. Now here's hoping I have the same luck with my GW requests to Chase and CapOne (three late payments over the years for sums no greater than $20, **bleep** me and my lazy billpaying).

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