Co-signer- Student Loan

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smalls7803

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I recently received notification that I was a co-signer on a student loan, which I did not co-sign for. After some investigation, I discovered that someone I know had used my social security number and signature to obtain the loan. It is my understanding that as a co-signer I share the same responsibility for the loan as the loan holder should they default, as the person is not financially responsible I am a bit concerned. Is there any legal way that I can get out of this obligation without drawing attention to the fraudulant activity and causing the person potential legal penalties? They are unable to refinance. I am currently residing in Wisconsin. Thank you in advance for your assistance.

Kind Regards!
 
You have two options

Option1: Ignore it and hope this person pays

Option2: Report the fraud right away there is good chance your SS# may have been used for more than this loan!
 
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