Legal Question in Credit and Debt Law in Indiana

In 1999, I was a "credit reference" for a friend so he could attend school to get his CDL. When I went with him to sign the paperwork, I asked many times if I would be just a referance, or a co-signer and was reassured that I was nothing but a reference. None of the paperwork I signed mentioned anything about me assuming the debt in the event he would not be able to pay. To shorten the story, one thing led to the other, and the friend has been unable to pay the debt.

About once or twice a year, I recieve a phone call from whomever is holding the loan at the time informing me that I co-signed the loan and that I'm responsible for paying it. These calls will go on for a week or 2 at a time and then abruptly stop. Since they insist that it is now my debt, I always ask them to send me proof of it (A copy of the promisary note). I have seen the original promisary note, and my signature is nowhere on it. Needless to say, I never recieve the paperwork even though they always have my correct address. This loan has never showed up on my credit report in the 10 years it's been out, even though they insist it will if I don't pay.

Am I responsible for this debt? I have never recived the proof even though I've asked for it verbally and in writing several times. It is a 10 year old debt as well, isn't the statute of limitations on debts 7 years? I filed bankruptcy last year, and if I thought it was truly my debt, I would have added the loan to it. And if it's not my debt, what can I do to stop them from harassing me?

The loan originated in Indiana, I live in Kentucky, and the lastest company that holds the loan is based in Arizona.

Asked on 11/16/09, 4:39 pm

1 Answer from Attorneys

C. David DuMond Law Offices of David DuMond

Since you did not co-sign the loan, you are not liable. As usual, the debt collectors are lying. And, they will owe you a thousand dollars for every attempt to collect the debt after they have been advised of the facts, this under the Fair Debt Collection Practices Act. So, gather evidence that you have communicated this, best by certified mail, but fax or email might also work, as long as you can authenticate it for the judge. Google the FDCPA and see if you can find an attorney local to your area. Good luck.

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Answered on 11/21/09, 8:47 pm

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