I let someone use my name for a loan and the payment is now 2 months delayed, what should I do?

[tyrim88]

So, why they were checking your bank accounts? What was the main reason? Were they monitoring your bank accounts to make sure that you did not use cryptocurrencies?

I think one of the main reason they took that long was to share and communicate with sister financial institution about my credit record,if i have a healthy statement ,that i am not indepted to any institution.

 

[Good-Person]

I think one of the main reason they took that long was to share and communicate with sister financial institution about my credit record,if i have a healthy statement ,that i am not indepted to any institution.

Well, I do not have any bank account and this is why I tend to be free from such kind of restrictions. Having a bank account could be a hassle sometimes, especially when it comes to getting your documents verified.

 

[tyrim88]

Well, I do not have any bank account and this is why I tend to be free from such kind of restrictions. Having a bank account could be a hassle sometimes, especially when it comes to getting your documents verified.

Really you do not have a bank account,then how do you carry out your transaction and other things that has to do with finance,the thing about most of these fnancial institutions is that they usually share datas of their customers,but not the confidential ones.

 

[Danny4cash]

The loaning company do not understand that the person actually used your name but instead they are going to see if that you are the person who borrowed money and you should start treating it as such.

You've just said the obvious. The best option as it's right now is pay the money back because the loan company will not take it easy. They'll take the matter serious.

 

[Genie01]

Just call the person in debt and ask why he couldn't pay.
And if his reason is credible and you are capable of paying the debts, that would be a nice action, I think.

 

[eenya00]

DO NOT KILL YOURSELF OVER IT, JUST FIND A WAY TO WORK OUT THE MOALITIES OF REPAYING THE LOAN, BUT I BELIEVE YOU HAVE LEARNT A THING OR TWO FROM THIS BITTER EXPERIENCE AND KNOWN YOU WOULD NOT FALL FOR SUCH GIMMICK AGAIN

 

[Lynaia]

Actually there's nothing you can do about it than to start making preparation to pay back the loan in case the person that get the loan with your name as guarantor is not able to pay back

 

[frederick_9]

You have no option left to pay the money because your name was used to take the loan. So is either you find a way of paying the companies money or you end up in jail

 

[Saachi]

The place the loan was collected knows my identity that am the one who collected the if it delays I will find money as soon as possible to pay because I might be arrested

 

[eenya00]

this is indeed very sad and i feel your pain but it is part of life and a bitter lesson or experience you had to pass, but it would definitely come to an end, you just have to be strong and also know it is not the end of the world.

 

[Chibson]

First of all you have made a very big mistake and you should never try something like this again. You should talk to the people and if they are proving stubborn then you have to make intentional effort.

Probably, letting someone to take a loan on your behalf or with your name is a very big mistake. If he or she is not able to meet up with the payment then the person will be the one responsible.

 

[Danny4cash]

The first step of action would be to seek the assistance a lawyer in case you need to seek redress. If the funds are not available, you may need to enlist the help of someone in a law enforcement capacity to coerce the defaulting party to pay

Seeking the assistance of lawyer is good opinion but not the best. The best option is for him to type is to crossy. And see what how it happy it happn

 

[Bigron]

Seeking the assistance of lawyer is good opinion but not the best. The best option is for him to type is to crossy. And see what how it happy it happn

You definitely raise a good point. I think confronting the person involved directly would be a good start, and then if that fails, then legal redress can be sought in court.

 

[GoldenLady]

There are situations where it is harmful to both you and the person you are trying to help. If this company decides to do anything about this, you will have no choice than to pay. If you can afford to do so, pay them back and take it as a lesson well learnt.

 

[nadiel sahmen]

The loan firm would then most likely come after you in demand for their money, thus I believe you should better handle yourself around the security agencies and start looking for alternative better choices.

 

[HayKay]

You shouldn't have allowed this anyways. First you should've been sure of the income source for your cousin - this will then allow you to make the right judgement if you want to stand for the loan or not. Your personality is at stake here.

 

[glitch]

How did you let someone use your name? This is actually against the law to do. You can't allow someone to fake your identity and get a loan. It is considered to be fraud.

 

[ganibade]

I trusted enough and let my cousin use my name for a loan because he's a minor. His father promised he'll always pay on time but the loan is already delayed for 2 months now. The platform we used to get the loan has been contacting me and telling me they'll sue me but I don't have enough money to pay for the loan because I am just earning enough.

Have you ever experienced the same? What did you do?

If your cousin use your name to borrow loan, you can assist him in payment in order not to spoil your name so that people will not make jest of you.

 

[Alisco]

If from the first place you didn't sign an agreement in front of any community ruler or any civil defense officer, you have no chance of winning even in the court of justice why because it's your identity that was used.

 

[Genie01]

This could translate into a serious legal case that is why it is important to always know the person's financial status before actually vetting him for the loan. It would help you avoid these cases.