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Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 45682
Experience:  Attorney with 29 years of experience.
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Can someone put their debt in your name to get a loan from

Customer Question

Can someone put their debt in your name to get a loan from a bank. Financial paperwork shows I owe the debt when they really do. Can I sue them for the debt they said that I owed.
Submitted: 1 year ago.
Category: Legal
Expert:  Richard replied 1 year ago.
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.


Good morning. Can you explain a bit more exactly what happened? Who put the debt in your name? Did you sign anything? Did the bank issue a loan in your name or someone else's name? Was the check or was any documentation forged with your signature? Thanks.
Customer: replied 1 year ago.


My family owns a company and myself and my brother borrowed from the company. He went to get a loan from the bank and when he took the company financial statement to the bank he had put his debt onto mine on the paperwork so it would look like he was free and clear of any debt owed to the company.

Expert:  Richard replied 1 year ago.
Thanks so much for following up. Your brother committed bank fraud and the bank has a claim against him for obtaining a loan by providing fraudulent financial information. This opens him up for criminal prosecution and civil suit from the bank. With regard to your rights, if borrowing this money from the bank under fraudulent means results in any damages to you...e.g., your brother's increased debt or actions with the bank caused him to be unable to re-pay the company and thus impacted the value of your interest in the company....then you can also file a civil suit against your brother...not only for your actual damages, but also punitive damages due to the fraud involved. Once the suit is filed and a judgment awarded, you become a judgment creditor, and if the losing party doesn’t then pay the judgment, you can have the sheriff serve a summons on the losing party for a debtor examination. That forces the losing party to meet the judgment creditor in court and answer questions under oath about the losing party's assets. After that information is obtained, the judgment creditor has the power to garnish wages, attach bank accounts, have the sheriff seize other personal property, and/or place liens on any non-homestead property to satisfy the judgment.


Thank you so much for allowing me to help you with your questions. I have done my best to provide information which will be helpful to you. If I have not fully addressed your questions or if you have any follow up questions, or if I have misinterpreted your questions in any way, please do not rate me yet, but simply ask a follow up question without rating so I can provide you with a fully satisfactory answer. If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service with 3, 4, or 5 faces/stars so I can receive credit for helping you today. I thank you in advance for taking the time to provide me a positive rating!
Richard, Attorney
Category: Legal
Satisfied Customers: 45682
Experience: Attorney with 29 years of experience.
Richard and 12 other Legal Specialists are ready to help you
Expert:  Richard replied 1 year ago.
Thank you so much for the positive rating! I appreciate having had the opportunity to serve you! If I can be of assistance to you in the future, just look me up and I will be happy to help! For easy access, my bookmark is: http://www.justanswer.com/law/expert-legalbeacon/

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