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Whitekite

Just got a call from a Lawyer! New to site. Need help on next step

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I came across this site while searching for answers to my problem. 

 

I am hoping someone can point me in the right direction. 

Yesterday I got a call from an attorney's office, looking to collect on a debt that I knew nothing about.  Turns out it is for a family member who I cosigned a student loan with a few years ago.  They defaulted (unknowing) to me, so this attorney company is looking to collect from me.  They told me that I was responsible for it now that the other person didn't pay.  This particular loan isn't on my credit report, but, under the law, am I legally responsible for it?  When I talked to them I told them that I didn't know about the loan.  They asked my about 20 times if I was disputing it.  I didn't give them and answer either way, because I didn't know what to say.  It seemed like they were adamant about me saying that I was disputing it.  They kept saying they will have to validate and send me some letter or something.  But I’ve been reading about this particular law form, and they are known to “send letters” than never make it to their intended targets, then win default judgments or summary judgments against people who don’t fight back or show up.

 

Can someone please advise me what steps I should take next?  The loan amount is $7500.00.  As for now I have only talked to them over the phone, and I have not said I was responsible for the debt, and the co-signer has also spoke with them, he didn’t admit to anything either.  If the next step is that they send a letter, how do I make sure it actually comes to me? Do I need to send them some sort of certified letter stating what I want?

 

Please help!!

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Was this a private loan or a federal backed loan? Your in Calif. one thing to do is go online and check the local court system to see if they ever file a lawsuit against you without you knowing it. Just check it weekly or when you feel like it to make sure they don't get sewer service on you. Check with seadragon or Calawayer they can advise you more.

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"This particular loan isn't on my credit report, but, under the law, am I legally responsible for it?"

 

Be glad it isn't reporting yet but yes, you are legally responsible as a co-signor even if it isn't being reported.

 

"Can someone please advise me what steps I should take next?  The loan amount is $7500.00.  As for now I have only talked to them over the phone, and I have not said I was responsible for the debt, and the co-signer has also spoke with them, he didn’t admit to anything either.  If the next step is that they send a letter, how do I make sure it actually comes to me? Do I need to send them some sort of certified letter stating what I want?"

 

I would send a DV letter to them CMRR so that they have no excuse for not serving you if they did sue.  If they do use sewer service you have a valid legal argument for a vacating of the judgment as they knew how and where to reach you.  

 

The second thing I would do is call who ever the student was that I co-signed for and have a come to Jesus discussion about paying for this before I had to or we both got sued.

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I am hoping someone can point me in the right direction. 

Yesterday I got a call from an attorney's office, looking to collect on a debt that I knew nothing about.  Turns out it is for a family member who I cosigned a student loan with a few years ago.  They defaulted (unknowing) to me, so this attorney company is looking to collect from me.  They told me that I was responsible for it now that the other person didn't pay.  This particular loan isn't on my credit report, but, under the law, am I legally responsible for it? 

 

 

Depends, did you actually co-sign for it?  If yes, then yes, you are.  That's what a co-signer is for.  If not, then no, unless your information is on the loan docs but then you'll have to claim fraud & follow through with that claim including police report etc against said family member if they used your info w/o your permission.

 

When was the default?

 

Edit: Wholeheartedly agree with this:

 

The second thing I would do is call who ever the student was that I co-signed for and have a come to Jesus discussion about paying for this before I had to or we both got sued.

 

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It was a private loan , I don't think they have filed anything yet; however, they have checked my credit report then decided to call me 2 weeks later.  I called the loan company and they said that they didn't sell it, but they transfered it to Jaffe and Asher?  So, I don't know why a different comapny in California is contacting me?

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I'm not sure when the default was, from talking to my sibling, I gather sometime late 2013/or early 2014.  My first option is to get my brother to settle so it doesnt fall on me, but at the same time, I don't want him to get screwd by this colledtion firm/attorney, and pay the money if they cant prove that they actually have the right to collect from him. There is no question that he owes the money, he will pay.  I just want to make sure I dont get screwed.

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That's why you send a DV letter CMRRR. Simply put, I dispute this claim and require validation. You won't get much, but its a start.

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Ok will do.  Should I have him send the DV  alone, or should we both send a DV?

 

I want to try to stay as far away as possible so they don't see me as a potential target, and come after me.  My brother has already called them and said he would take care of it, but I am just worried they will still come after me because I look better on paper and have great credit.  I'm mostly concerend they will dump this on my credit.

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You can bet they will, your brother needs to send them a DV as well you probably should too. But he needs to get arrangements made now!

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Going to send out a DV letter today?  Here is the thing, I do not want this on my credit report.  Should I hire an attorney for this amount of money.  I have one available to me, who loves fighting these types of cases.  After I send the DV what is the next step?  if they do decide to sue me, how long before they decide on that.

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I would hire attorney if you have one available and has the desire and experience to deal with this.  There is no way to predict the time frame in which they will decide to sue or if they will actually do it.

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