If parent took out student loans in my name to pay personal bills but not doesn’t want to pay for it, what do I do?
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If parent took out student loans in my name to pay personal bills but not doesn’t want to pay for it, what do I do?
Asked on October 27, 2011 under Bankruptcy Law, Ohio
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If your parent took out student loans in your name but refuses to pay off the loans taken, then you need to have a face to face meeting with the parent about the need to honor his or her contractual obligation. Failure to do so could very well result in damage to your credit rating.
If the parent refuses to pay the loans that are in your name, you in order to protect your credit rating will ultimately have to pay off the bills and seek reimbursement from the parent voluntarily or through a legal action. The loan that the parent took out in your name could be deemed a fraudulent transaction getting the parent possibly into deeper trouble than if the parent simply decided to begin paying off the loans.
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