My mother has taken out loans in my name that I have no control over. What are my options?

Recently, when I applied for student loans with my parents, I had the 'refund', or excess money not used for tuition, deposited in my parent's bank account. I had been somewhat reluctant to take out this particular loan, but my mother simply filled out the forms using my information and took it out without my consent.





Now, my mother is keeping the refunded financial aid money in her bank account and not allowing me to pay the creditor off using it. I would like to not have to pay interest on this and end up paying several thousand dollars after I graduate on this 'excess' money from the loan.





I asked my mother if I could pay this money back to the creditor and she replied that ';It's not my money to manage'; - although the loan is in my name and is my responsibility to pay back.





1. How can I ensure that I am the only one capable of deciding which loans I take out?





2. How can I retrieve the money without angering my mother too much and pay the creditor back for uneeded loans.My mother has taken out loans in my name that I have no control over. What are my options?
Let me address number 2 first... despite the fact that it's your mother, what she did was ILLEGAL and quite frankly I don't think you should be too concerned about angering her considering she had no problem blatantly disrespecting you in the way she did.





Now to answer the overall question, there's really nothing you can do at this point except contact your local police and file a fraud report. As horrible as that sounds, you need to take a stand on this and show your mother that what she did was not only illegal but will not be tolerated. Once the police are involved, I'm quite sure she'll release the money ASAP, if not, then it serves her right for any legal action she endures.





It's absurd that she would screw her own son over just as he's trying to start making a life for himself. Don't let her ruin you... if she's willing to do this, I'm quite sure she'll have no qualms of doing worse next time it suits her.My mother has taken out loans in my name that I have no control over. What are my options?
Exactly what KIND of loan are you talking about? Is this a Federal PLUS loan?
Hiya i am sorry to hear this is happening to u, i don't know much about this but what ure mother is doing is wrong. If she got loans out in ure name she must have signed ure name to them which is fraudulent and she could go to prison for this. My advice would be to go to the citizens advice bureau and tell them exactly what is happening and they should be able to give u advice on what is the best course of action to take. I wish u luck with this and hope it doesn't cause too much upset within ure family, but is VERY important u gain control over ure money matters as u could end up as a bad debtor. gl


http://www.citizensadvice.org.uk/bureau_鈥?/a>
First step is to determine the type of loan that it is.


If it was a federal Stafford loan, then your parents would not have to cosign for it (although they may have had to sign the FAFSA).


If it was a federal PLUS loan, then it is your parents responsibility to repay, and therefore is their money.


If it was a non-federal student loan (alternative loan), which I suspect it is, then contact the lender. Ask to get a copy of the Promissory Note that was ';signed'; and confirm that it was signed by you. If it is not your signature, then I would either 1) tell your mother that you will send it over to their fraud department unless she gives the excess back, or 2) contact their fraud department and let them know that it is not your signature. If your mother has ever done something like this to you or anyone else in the past, I would recommend proceeding directly to step 2. Here's the thing, you need to decide if you are going to let your mother walk-over you, or if you are willing to let her be angry. It's part of being an adult.


If you did sign the promissory note, then why did you sign something that would put the excess tuition into your parents account? If you did sign the note, then I don't know that you have much recourse, besides, I suppose, suing your mother.