I'm $62,000 in debt!

[dragonballgtz]

I have been trying to get a credit card and a personal loan the past couple of weeks. Since I just turned 18 last November and only have 2 bills that I pay on time each month I figured I could get a CC and small personal loan pretty easily. So I go to sites like citifinacial.com and apply for a loans or CCs but I always got turned down.

So I decided to check my credit report to see what the fvck was up. I first went to conssumerinfo.com. I applied for the free credit reports, got a user-name and all of that other good stuff and logged in. When I went to see my credit report they asked me some security questions regarding "my" past credit. Some asked me why and for whom did I take out a loan in 2001 and 2003. I thought these were trick question and choose "None of these apply to me." So I clicked next but I could not see my credit report because I answered the security questions wrong. How could I though I never got a loan before especially in 2001. I was only 15 years old! (I think thats right?)

So since I could not get a loan or CC they have to send you a reason why through the mail. The reasons American Express did not let me get a CC from them was because I claimed Bankruptcy, Collection item(s), Delinquent past or present credit obligation(s), and too few satisfactory accounts.

Needles to say I tired to view my credit report today using Transunion's website site. After I applied and made a user-name, they too asked me security questions regarding my past credit. This time though my dad was around and he saw the questions they asked me. With what bank did you take out this loan from on this date? He answered the question because he took out a loan in that time. They asked me more questions like name your previous employer again he answered and got it right.

Finally I was able to see my credit report. All of my dad's debts are on my credit report! And my dad is $62,000 in debt! Also my dad just claimed bankruptcy last week and that is on my report. All three Experian, TransUnion and Equifax, especially TransUnion, has my dads credit history since 1986 on my credit report. In 1986 I was 1! You would think some one putting this on my credit report would say, "Hey, wait a minute this person is a minor."

This really sucks major ass. I cant get a loan, can't get a credit card. I am pretty much screwed for awhile until I get this straighten up.

Notes:
Tried to get a loan and CC could not.
The reasons why, because of bankruptcy and delinquent past.
Looked at credit report and found out my dads debts are on my credit report. $62,725 total
Sucks to be me right now.

 

[jagec]

Talk to a lawyer.

 

[ScrapSilicon]

Originally posted by: jagec
Talk to a lawyer.

+2 more..

 

[Rickten]

so did your dad take loans out in your name or did this happen accidentally because you have the same name as your dad?

 

[cronos]

Originally posted by: jagec
Talk to a lawyer.

and your dad.

 

[thefish8]

No wonder, you don't know how to spell debt...

 

[CrackRabbit]

Do you have the same name as your dad, or was your dad using your name for credit?
If he was using your name for credit he is in alot deeper sheit than declaring bankruptcy.

 

[Double Trouble]

If you got your credit report, there's information on there that tells you what to do to get mistakes corrected. It's a pain in the butt process, but it can be done. Your father's debts are not yours -- all that stuff should be gone, only your information should remain.....

Good luck!

 

[NL5]

Originally posted by: CrackRabbit
Do you have the same name as your dad, or was your dad using your name for credit?
If he was using your name for credit he is in alot deeper sheit than declaring bankruptcy.

 

[boyRacer]

Originally posted by: thefish8
No wonder, you don't know how to spell debt...

deb·it

• An item of debt as recorded in an account.
  The left-hand side of an account or accounting ledger where bookkeeping entries are made.
  An entry of a sum in the left-hand side of an account.
  The sum of such entries.

 

[richardycc]

I bet you have the same name as your dad, but you are Jr.

 

[dragonballgtz]

It better not be on purpose.:| But still stuff from 1986 is on my credit report.

Transunion has me down as my dad. They have his birth date, is past employment, the house he use to live in back in 1980-1984. To transunion I am my dad but the only thing that is different is my SS#. The other two have my right D.O.B and everything. But they still have some things on my credit report that is my dads.

I am so pissed off right now.:|

 

[CrackRabbit]

You still havent answered the questions, do you have the same name as your dad?
If you do you need to contact transunion and the other reporting agencies and get it correceted.

 

[dragonballgtz]

Sorry. but yes the exact same name.

 

[Hossenfeffer]

Not really a cure, but a decent thing to get would be a copy of Money Deluxe. It comes with a year of credit-monitoring through Experian.

Also check out CreditNet

This can get worked out, but yes, it'll be a bit of a pain.

I'd ask like others if your dad had taken any loans out in your name.

I know some people will include their child's name when the child is very young so that they have the illusion of a long credit history. It can backfire a bit.

 

[KevinH]

Don't waste money on a lawyer. They won't do anything you can't do. Talk to each of those companies that show as a debt on you credit report and have them send you a letter making the distinction between yourselfa nd your dad. Then contact the credit agency with said info. Annoying process but it can be done quite easily. I do thiis all the time for clients who have errors on their report when I'm doing a loan for them.

 

[z0mb13]

ow that sucks..

get this straightened out ASAP!

 

[dragonballgtz]

It can backfire a bit.

It exploded

Is it spelled debit or deb-it?

 

[dc]

solution = genki dama.





sorry, i couldn't resist.
find out from your dad what's up and get this cleared with the financial institutions.
good luck.

 

[SunnyD]

Can't say it enough - read and reply with regards to what everybody else is saying.

#1 - is you dad's and your name the same?

#2 - has your dad been using your SSN to take out loans?

#3 - contact an attorney

#4 - have your dad obtain credit reports under HIS SSN and compare them. If they are the same, then the credit reporting agencies screwed up, and #3 can get it cleaned up in a hurry with a well themed letter (ie: remove and seal your current record so that NO history exists - just getting it cleaned up, those past things will still show).

 

[dquan97]

contact the Big 3 credit report providers (send them letters) to sort this out

 

[DaiShan]

Originally posted by: bR

Originally posted by: thefish8
No wonder, you don't know how to spell debt...

deb·it

• An item of debt as recorded in an account.
  The left-hand side of an account or accounting ledger where bookkeeping entries are made.
  An entry of a sum in the left-hand side of an account.
  The sum of such entries.

For assets however a debit indicates an augmentation of that account, if you debit cash 10grand you have added 10,000 to the account, coversely if you debit a Liability account you have just posted a liability for that amount, if you debit accounts payable 10,000 you now have a debt of 10,000, this is to be offset by a credit from your assets, usually cash, to remain in balance, hence the term "balance sheet" BTW OP you would say I am 62,000 in DEBT (silent b) indicating you have debts outstanding in the amount of 62,000. Listen to the other posters, there's good advice there, good luck.

 

[Babbles]

Sometimes weird stuff like that happens. A few years back when I checked my credit report apparantly I had a mortgage two years before I was born. It was my mother's and I have no clue how it ended up on mine.

 

[NFS4]

Looks like your dad's name isn't the only thing he gave you

Regardless, this whole situation is nuckin futs

 

[Epoman]

I had the same problem as you when I turned 18. My dad and I have the same name. My parents were never really good at taking care of their credit. And I had a few items on my reports that were my dad's.
It took some time but I got it all fixed after several letters and a few phone calls.

Does your name have a Jr. after it? If not you should have that fixed.

Also it's possible that your father used your SS# for a few loans. I remember my parents thinking about using my SS#, I told them I would call the police. I was 16 at the time. Today I score about 720-750 today on all 3 bureaus.