What should I do when I was lied to when signing a loan agreement?

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What should I do when I was lied to when signing a loan agreement?

Anonymous Feb 16, 2011 Business Contracts 1 views 2 answers

I went to get a student loan, but I don't understand terms or much of what loan contracts say. I asked them to explain all of it to me because I cannot understand what it means/says and I was informed with wrong information. These lies made me think it was a good loan(so I signed it), but when repayment time came those options that they sold me on during the signing are not there. They are deny everything or saying it is my fault for believing what they said. They are now calling my co-signer all the time(5+ times a day). They even call the co-signer at work and on the co-signer's cellphone, which are phone numbers that were not given to them. I know I need help, but I have no clue what to do.

Bryant Martin · Answer 1 · 2026-06-15T10:34:13+00:00

I agree that the language of the contract controls in general. Ordinarily any oral statement about the terms of a contract is not admissible or relevant. However this sounds like it might rise to the level of fraudulent misrepresentation, which might be a defense. The treatment your cosigner is receiving is illegal harrassment, strictly regulated by federal law. I do not practice in that area, but you or your cosigner should consult a debtor's rights attorney about remedies available. FEEDBACK: Both and other readers are interested in your feedback on the quality of the answers. Plz check the “thumbs up” symbol if you find an answer helpful or the “thumbs down” symbol if not. DISCLAIMER—This answer is for informational purposes only under the system, its terms and conditions. It is not intended as specific legal advice regarding your question. The answer could be different if all the facts were known. This answer does not establish an attorney client relationship. I am admitted only in California. (Bryant) Keith Martin sbbizlaw.com

What should I do when I was lied to when signing a loan agreement?

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