Legal Question in Credit and Debt Law in Massachusetts

Re: College Tuition and Credit Bureua

As the recipient of services provided by the educational institution, you would be responsible for paying such institution ( or lender) the fair market value of those services. Presumably, you ( and your father as co-signer if I understand you correctly) signed an agreement obligating yourself to the institution. The agreement between you and your father is separate and disctinct from your agreement with the educational institution. As such, the lender or institution has the choice of instituting an action against either you or your father ( if in fact he co-signed the obligation) for repayment of monies due and owing. The statute of limitations on a contract governed by Massachusetts law is 6 years from the date of the breach. It is within the discretion of the college as to when suit is brought , if at all. Unfortunately, there is not much you can do to prevent this adverse information from appearing on your credit report.