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Question
I HAVE THE SAME NAME AS MY SON .APPROX 12=14 YEARS AGO HE GOT A AUTO LOAN HE DID NOT PAY IT OFF I AM NOW BEING ASKED TO SETTLE THIS DEBT DURING MY REFI.I DID NOT CO SIGN I DONT KNOW HOW MY SSN GOT INVOLVED.I DONT WANT TO GET MY SON IN TROUBLE.HOW LONG IS THIS ABLE TO STAY ON RECORD.
Did your son use your ssn? You can stop collection action against you by submitting a same name affidavit with a letter demanding the creditor cease and desist all collection against you. Sned the letter and affidavit by certified mail with a return receipt requested directly to the creditor or their attorney. If the debt is listed on your credit reports send a copy of the affidavit to the credit bureaus with a letter asking them to remove the items from your file.
An debt can only be reported on your credit file for 7 years unless they file suit and then it becomes a public record which can remain 10 years. Since this is not your debt it shouldnt be there at all.
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Answers by Expert:
Michael Brotherton
Expertise
Consumer/Debtor Rights Advocate. Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years. Mike is well versed in Loss Mitigation practices and the legal collection process. He has helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com. FinancialEmergency.com is a consumer web site which actively promotes Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY. Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be. Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems. www.financialemergency.com (copy and paste in browser).
Experience
Over 40 years combined experience negotiating disputes and resolving financial issues related to consumer debt, corporate issues and mortgage modifications.
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