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Can someone put their debt in your name to get a loan from

a bank. Financial paperwork...
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.
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Answered in 1 minute by:
6/4/2013
Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 56,009
Experience: Attorney with 29 years of experience.
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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.
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Customer reply replied 4 years 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.

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.


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Richard
Richard, Attorney
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Richard
Richard
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