Hi, my name is ***** ***** I will be glad to Answer your question
It looks like somebody at the lender's office is asleep on the job because based on what you have stated, it appears that you are on the lender's books for 2 loans, but you received the proceeds from only one loan.
You would not have to pay the monthly installment for two loans, but until the lender straightens this out, their mistake will show up on your credit report
as if you defaulted on the second loan. But, because this is very time-sensitive, it would be in your best interests to straighten this out in person, rather than continue to try to resolve this by telephone, and getting no response. As I said, you would not have to pay off 2 loans, but until you get it straightened out, the two loans will appear on your credit report and will show that you defaulted on one of the loans.
The only way to resolve this and to preserve your excellent credit score is to go to the lender in person and demand to speak to the lending officer who wrote the first loan and demand that he/she straighten this out, and also to demand that you be given the fist promissory note you signed, so that you can tear it up yourself. I know that this is time consuming and frustrating, but it is absolutely necessary in order to preserve your credit score.
IF I HAVE NOT ANSWERED YOUR QUESTION COMPLETELY, PLEASE LET ME KNOW AND I WILL BE GLAD TO EXPLAIN FURTHER