EDUCAP Says I’m a Cosigner for a Private Student Loan But They Can’t Prove It


Dear Steve,

I co-signed for my daughter on a private student loan (EDUCAP,INC) and unbeknownst to me she got in financial trouble and did not make payments. EDUCAP missed the statute of limitations on collecting from her. I had to file bankruptcy in 2009 CH 13 and they received payments for 5 years. They then filed a lawsuit against me for $112,000 that includes late fees, interest and attorney fees. I am 73 and on SS, VA disability and a military retirement. I am married (my wife is not a party to this suit), I own a home here in West Palm Beach.

I have never been contacted by EDUCAP for a payment. I am defending this myself Per Se. I answered the lawsuit within the time limits required. This has been going on since 2016. They are now wanting to go to trial, which will be sometime in Jan. or Feb. I have also answered the plaintiff’s Request for Admissions and sent them my own RFA. I also requested their copies of all documents and files regarding this matter.

The signature on the Promissory Note is not my signature. I submitted copies of my FL drivers license, military retired ID and SS card to the plaintiff’s attorney back in 2016. They claim the original Note was lost and have issued a letter to re-establish the note. I read your article in regards to Florida Notarization laws and I don’t think theirs meet the requirements.

Can I make a Motion to Strike and do I do this at trial or the end of the trial? Also, My wife and I own our home as Tenants by the Entirety as is our bank acct. Can EDUCAP,INC get any money if we were to sell our house?

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Dear Rick,

You seem to be making the case that you were never a party to the loan as a cosigner and that you are the victim of identity theft. But if that was true then why would you make payments on the debt in a Chapter 13 bankruptcy?

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I would strongly suggest you find competent legal counsel locally and discuss the specifics of your case with them. One attorney to discuss this with might be Van Horn Law Group or go to the directory on the National Association of Consumer Advocates.

Since the amount they are seeking is so large, an investment in a legal consultation with a Florida licensed attorney who is experienced in this matter seems like a no-brainer.

Damon Day - Pro Debt Coach

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