Vince asked in Business & FinanceCredit · 3 years ago

Cancelling a loan on two waverunners.?

I found out recently that my family opened up a credit limit or financed two waverunners in my name when I checked my credit score online. I don't want that debt in my name if they decide to stop paying plus I didn't even know about it in the first place. I don't live in the same city as they do / where the waverunners are so I can't really take them back to the dealership or anything. What do I do to get them off my line of credit, I could care less if they get repoed or something I just don't want them in my name.

9 Answers

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  • Dan B
    Lv 7
    3 years ago

    To add credence to your claim, you MUST file a police report for ID theft. Provide that report to the credit bureaus and to the lender who financed the waver runners. What your family did is felony ID theft. If you don't, you suffer any and all consequences if they default. You'll be paying for wave runners you don't own, can't use and have no vested interest int hem.

  • nt
    Lv 6
    3 years ago

    Police report. Be prepared to snitch.

  • 3 years ago

    Before getting hasty, are your parents good about paying their debts? If so, their action will not hurt you. Or, when you discuss this with them, maybe they can refinance the waverunners in their name and pay off the debt attached to your name.

    Source(s): Do not pis$ off your parents unless you really must take drastic action.
  • 3 years ago

    Report them to the credit bureaus for fraud.

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  • 3 years ago

    First, it is absolutely essentially that you tell no one that it was your family that did this.

    To get it off your credit, you dispute the entry on your credit report, but say ONLY that you did not do this. You do not even suggest that you might have even a hint as to who did.

    If you admit that you know it was your family, then your only options are to leave it on your credit and in your name, or to have the police arrest your family and take them to jail. Simply having the waverunners repoed is not an option.

  • 3 years ago

    You report them for identity theft. If they get repoed, your credit gets killed.

  • 3 years ago

    Did you ask your relatives about it?

    Do you share the same name?

    Are you even sure the loan is in your name.

    There are often errors on credit reports, especially when people share the same name.

  • DON W
    Lv 7
    3 years ago

    Get your credit report, and then dispute the charges, saying that they are not yours. You can also add that the accounts were opened by relatives living in another city. Be prepared that they may get into trouble for fraudulent use of your identity.

  • NA
    Lv 7
    3 years ago

    Report your relatives for identity theft, then sue.

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