Legal Question in Credit and Debt Law in Iowa

last year my parents got a student loan for me and told me about it afterwards. i was 18 years old and i didnt sign the papers. i only went to school for a semester and my lab only cost about 1000 dollars. the loan was for 2950. my parents used the rest to pay their house mortgage they were behind on. im currently unemployeed. I was wondering if i was legally responsible to pay the loan back since i never signed ne papers. if i am i was also wondering if since they used the money i could somehow get them to pay back the portion the used.


Asked on 4/28/10, 2:36 pm

1 Answer from Attorneys
Robert Luedeman solo practitioner

If they borrowed the money then it would seem that they're the ones with the problem. However their diversion of the some of the proceeds is troubling and is a potential violation of federal law.

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Answered on 5/03/10, 6:07 pm


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