05 Aug My deceased husband used my name for a loan. What can I do?

Q. My husband recently passed away. He had a form of dementia that contributed to impulsive spending, hoarding and collecting, among other behavioral issues, including being very secretive and paranoid. After his death, I discovered he had taken out a storage unit to hoard his purchases and he had secret credit cards. I was shocked to learn he went through his entire 401(k) also. Then I found a loan he extended after we paid it off and I was unaware, and it’s also in my name. When I finally got the paperwork I found I was typed in as a “co-borrower” for $20,000 but there was no signature. The company said I was now the primary on the account and responsible but they won’t give me the whole contract. It does show on my credit report. What can I do?
— Overwhelmed

A. We’re so sorry to hear about your difficult situation.

There are several things you try.

First, check for your credit reports on annualcreditreport.com with all three credit agencies — Experian, Equifax and TransUnion, said Jody D’Agostini, a certified financial planner with The Falcon Financial Group in Morristown.

We know you said it was on at least one of your reports.

D’Agostini said you should dispute the loan with all three agencies.

“I would again insist on receiving the entirety of the contract,” D’Agostini said. “If they persist in asking for payment, I would engage an attorney to fight this false claim.”

The Fair Debt Collection Practices Act (FDCPA) makes it illegal for debt collectors to use abusive, unfair, or deceptive practices when they collect debts, according to the Federal Trade Commission.

It said the law limits how and when a debt collector can contact you about covered debts.

“A collector has to give you `validation information’ about the debt either when they first communicate with you or within five days of the first contact,” it said.

The collector has to include the following:

• their name and mailing address
• the name of the creditor you owe it to
• how much money you owe, written out to include interest, fees, payments, and credits
• what to do if you don’t think it’s your debt
• your debt collection rights, including your right to get information about the original creditor if you ask for it within 30 days of getting validation information from the collector

If you don’t think the debt is yours, you should send the debt collector a dispute letter.

“Once the collection company gets the letter, it must stop trying to collect the debt until it sends you written verification of the debt, like a copy of the original bill for the amount you owe,” the FTC said. “Consider sending your letter by certified mail and requesting a return receipt to show that the collector got it. Keep a copy of the letter for your records.”

You should also consider filing a complaint with the state Department of Banking and Insurance. You can do that here.  In addition to other help, it should, at the very least, be able to help you get the copy of the contract.

Email your questions to .

This story was originally published in August 2024.

NJMoneyHelp.com presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.