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  1. #1
    Join Date
    Dec 2010
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    2

    Default Primary Borrower Intended Fraud, Leaves Co-Signer Holding the Bag

    My question involves collection proceedings in the State of: Massachusetts

    Hello there,
    My (now) ex-husband had me co-sign a loan for his business in 2007. After meeting him at the loan office and signing away, I didn't see him again. He took the money and ran abandoning me, our child, our business, our home (and its mortgage). I have lost everything, and now I am being sued for double what the original loan was. The lender has dismissed all proceedings against my ex because they can't find him, and are going solely after me. Do I have a leg to stand on in court tomorrow? Thank you in advance for your responses. You all have a wonderful Holiday!

  2. #2
    Join Date
    Sep 2005
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    98,846

    Default Re: Primary Borrower Intended Fraud, Leaves Co-Signer Holding the Bag

    You should consult a bankruptcy lawyer about the immediate lawsuit.

    We have no information about how you addressed this situation in your divorce judgment; you can talk to your divorce lawyer about any recourse you might have against your ex.

  3. #3
    Join Date
    Dec 2010
    Posts
    2

    Default Re: Primary Borrower Intended Fraud, Leaves Co-Signer Holding the Bag

    Default Re: Primary Borrower Intended Fraud, Leaves Co-Signer Holding the Bag

    Thank you Mr. Knowitall. I wish I could, however, I'm flat broke, and I just learned of this court date 12 days ago. They sent me papers saying that they are asking for a default judgment, because in 2008 they notified me at the "last known address" (where I had not resided in over a year) of a court date. My ex signed a separation agreement with me that was accepted by the Judge in the divorce. It included that my ex was responsible for the loan. However, he never made payments, and is no where to be found. As of now he also owes me 41,750.00 in child support, which is probably why he remains off the grid. Thanks again, I appreciate your time.

  4. #4
    Join Date
    Sep 2005
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    98,846

    Default Re: Primary Borrower Intended Fraud, Leaves Co-Signer Holding the Bag

    Sometimes legal aid can assist with bankruptcy, or provide a lower-cost referral. Check these resources.

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