school loan cosigner fraud

[ineedadvice1]

nine years ago i cosigned on my then girlfriends first school loan to attend the art institute of california (first mistake on my part). we have a child together and had a very rocky relationship. after we split up i found out she had been continuing to sign my name as cosigner electronically without me knowing. when i confronted her with what she was doing and told her i would press charges if she continued she then got her parents to begin cosigning for her. i did not press charges on the previous electronic charges because she is my childs mother and promised that she would always make the payments (second mistake on my part). i have recently received notice from sally mae that she has begun defaulting on the loan payments. when i spoke with her of the situation i was told she was paying what she could and was attempting to get a loan modification so she can afford payments. my credit score means a lot to me and is very important in me owning my own small business. i contacted sally mae and discovered that she has not been in contact with them at all and has since missed a second payment. iv covered the first overdue payment and told them of the situation with me not making or consenting to the electronic signatures. i am assuming she is making the payments on the loans her parents cosigned for and choosing to just let the ones i signed be put on me. i have been instructed by sally mae to contact there fraud department about the fraudulent signatures. my concern is with the amount of time that has passed they will not find that they were fraudulent. can anyone give me some advise on how to proceed. i do not wish to make a third mistake on this situation.
thanks

 

[disagreeable]

That is a big concern. You knew fraud occurred and instead of reporting it, you sanctioned it. You may be held to paying it now.

 

[army judge]

If you want to resolve the matter do as Sallie Mae instructed, or keep paying on the loan, if you dislike seeing a fraudster prosecuted.

Hint: You'd only be a party to the fraud if you participated and sanctioned it. It all depends on when you say you knew or learned about her activities.

 

[Betty3]

i have been instructed by sally mae to contact there fraud department about the fraudulent signatures. my concern is with the amount of time that has passed they will not find that they were fraudulent. can anyone give me some advise on how to proceed. i do not wish to make a third mistake on this situation.
thanks

That's the only thing you can try or keep paying on the loan.