Legal Question in Consumer Law in Texas

A few years back I applied for a student loan from Sallie Mae with my dad as a co-signer. We were turned down because he had bad credit, so I asked my step-dad to co-sign and he did. Sallie Mae approved my step-dad's credit and he co-signed for the loan for me. I have copies of the original paper work with my step-dad's signature on it.

We found out, however, that Sallie Mae does not have my step-dad as the co-signer. They have my dad as the co-signer instead... and it was my step-dad that signed the loan documents, not my dad. We have tried calling them multiple times and they argue with us. They tell us we're wrong and that there is no way to get my Dad's name off of it.

What can/should we do about it?


Asked on 3/31/10, 10:58 am

1 Answer from Attorneys
Mark Dunn Mark D. Dunn

If someone didn't sign a promissory note, he isn't liable for the debt, period.

If Sallie Mae screwed up their records, it's their problem.

However: if they try to collect the debt from the wrong person, THAT is a different story.

And if they report false information to a credit bureau, that is slander.

I suggest: Write a letter to them (PAPER letter. No telephones or emails). Tell them exactly what happened. Maybe even include specimens of both signatures - Dad's and Step-Dad's. And tell them in very simple terms that if they report any false information to any bank or credit bureau, they will be sued for slander.

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Answered on 4/05/10, 2:40 pm


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