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Dispute

My Daughter’s Loans Are On My Credit Report

Dear Experian,

My wife got her credit report and an address that is not ours showed up. We need it removed along with two school loans that are not ours but may be from our daughter.

- LSH

Dear LSH,

If your wife did not cosign for your daughter, she can dispute the student loan accounts online via Experian's Dispute Center. If she obtained her credit report directly from Experian, it will include instructions to submit a dispute by mail or by phone, as well.

Cosigned Loans Will Appear on Both Reports

You did not specify whether the address in question also belongs to your daughter, but I suspect that may be the case. If so, it sounds like your wife may have cosigned the student loans for your daughter.

When you cosign a loan for another individual, you are stating that you agree to be responsible for the debt, and for ensuring that the payments are made on time. Therefore, the loan will appear on the cosigner's report as well as the primary borrower's, and so will the address or addresses associated with the account.

Although your wife may not have lived at the address listed, it is part of her credit history because it is associated with an account on her report.

Disputing Items That Don't Belong to You

If your wife did not cosign, she can contact Experian to dispute the student loan account as not hers. It is also a good idea to contact the lender and ask them to update their records to remove her name if she is not contractually associated with the account.

Your wife can also dispute the address as not hers. If it turns out that she did cosign, and the address is being reported by the student loan company, she shouldn't be concerned about it appearing on her report. Address information does not affect credit worthiness or credit scores. However, keep in mind that any time you cosign for an account, the address listed on the account may be reported as well.

Deciding Whether to Cosign for Someone

Being a cosigner comes with a lot of responsibility. Before agreeing to cosign for someone, it is a good idea to make sure the person you are cosigning for is aware that any late payments made by them will affect your credit as well. In addition to payment history, the total amount of the loan is also calculated in the total amount of debt you are responsible for. All these things should be taken into consideration before making a decision about whether or not to cosign for an account.

Thanks for asking,

Jennifer White, Consumer Education Specialist

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