Unaware Student Loan

[Anonymous]

Hello everyone I am new to the forum and just need some advice.

So here it is I found out in March of 2019 that I was the main person listed on a student loan that my mother obtained 10 years ago. During 2017 & 2018 my parents fell on hard times for reasons I won’t discuss on here. During these two years my mom missed 90-180 days of payments and my credit score started to dip. Not knowing why I signed up for credit karma. As it continued to drop i checked my scores in credit karma and noticed several negative remarks from college foundation and the amount of days with late payments. Not knowing why or where these accounts came from and before filing a police report for fraud I called my parents. My mom admitted that she was unable to pay several months in row and at that time told her I would take over the account and pay it off. I called the college foundation and changed the address and phone number to my current one. The account was paid off immediately but the negative payment history is still attached.

During those years of missed payments my information was never listed on the account only her address and her phone number so I was never contacted when payments were missed. It has dropped my score over 100 points and I am so frustrated I’m not sure what to do.

Any help would be appreciated

[RobertEG]

While there is an identity theft procedure under FCRA 605B that can be used to get information blocked from a consumer's credit report if they file a police report asserting that they did not authorize the account or transactions, there is an additional provision for a CRA to decline any such block if "the consumer obtained possession of goods, services, or money as a result of the blocked transaction or transactions."

Thus, even if willing to file a police report and make a request that the CRA block the information from your credit report, the CRA can decline if you received a loan or educational services as a result of the transaction.

You could contact the furnisher of the negative information and request that they grant a good-will deletion based on the circumstances of your case, but there is no specific basis for blocking the information from your credit report if you benefited from the loan.

[Anonymous]

Thank you!!! I filed a dispute with Equifax and not sure if it even matters. Do you think it is worth getting an attorney?

[pizza1]

Im sorry if Ive missed this, but was the SL for you or your mother?? You said you were the main person listed, so was it yours, and your mom missed all those payments?

How is the loan actually listed? Ask you mom for the original financial paperwork as well and see how its listed. Was she a co-signer?

Is the loan only showing on EQ and not the others?

[Anonymous]

Hey pizza1!!! My mother took the loan out by applying online. She had all of my information and used it on the loan. I was the only one on this loan and was told today she took one out just in her name which she is still paying on. She used her address and phone number so I was never aware of anything.

The loan shows on transunion as well.

[Queen_Etherea]

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@Anonymous wrote:
Hey pizza1!!! My mother took the loan out by applying online. She had all of my information and used it on the loan. I was the only one on this loan and was told today she took one out just in her name which she is still paying on. She used her address and phone number so I was never aware of anything.

The loan shows on transunion as well.

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Still a little confusing.... So she took one out in your name by using her address/phone number, but also took another one out in her own name? 

[Anonymous]

Yes she took one out just using my information and then took one out using just her information. For both accounts she used her address and phone number so I was never contacted