Ask The Get Out of Debt Experts Identity Theft Student Loans

My Son Fraudulently Signed My Name to His Student Loans. – Bob

Written by Steve Rhode

My son whom has been rehabbing from a drug addiction, signed my name to 80k of school debt, did not finish school yet but is working hard to get his life on track . The lenders are hounding me now for this money . He is telling me to contact them and tell them he has committed fraud, However as I said before he is finally getting his life together and as a parent would like to see this continue and not bring any more trouble for the young man. My heart breaks and I know we can not afford to take this debt on or I would . What can I expect will happen to him legally if I file this report?


Dear Bob,

I’ve seen situations very similar to this many times over the years. They are always tragic.

You see, your son has committed a criminal act and to eliminate your liability you will need to act swiftly to let the lender know you are a victim of identity theft and you will need to cooperate by filing a police report.

It’s a tough spot to be in. We love our kids. And frankly it is amazing your son is willing to accept responsibility for his criminal acts. I applaud him for doing so. I don’t often see that.

You might elect to not do this, and that’s your choice. But be forewarned, by not following through on this and turning him in you will be 100% responsible for the student loan debt, fees, and penalties. If you fail to make the required payments your pay can be administratively garnished and the loans can’t be discharged with bankruptcy. You will be screwed. And you’d be doubly screwed if these are private student loans.

The reality is the student loans are already bringing down your credit score because they are apparently listed under your identity.

See also  My Granddaughter Left College Just Months Before Finishing. I Cosigned.

My advice, if you really want to help you son with this, is to find a good local attorney to represent him but turn him in and get your liability for these loans terminated.

You may decide not to file the affidavit of fraud or call the local police but wouldn’t it be better to use this serious theft as a wake-up call and a teachable moment? Sometimes the best thing we can do for our kids is give them a teachable kick in the ass.

Please post your responses and follow-up messages to me on this in the comments section below.


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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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