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question iconMy dad sign up for a US Bank Reserve line, the line amount is $15,000. My dad passed away November 5, 2019 and we found out that the US Bank Reserve line was in my dads name and my moms name. My mom does not remember signing the loan agreement and would not have signed it. Just before my dad passed away we went into US Bank and the banker told us they did not require signatures for lines/loans when it was opened. Is US Bank able to collect on this line without a loan agreement? Also, is there anything we can do to stop them from calling on this (fraudulent) line?
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Typically with that amount of debt stated to be owed they would need a signed agreement in order to hold anyone liable for the loan. You could dispute the debt with credit bureaus if they are reporting it on your mother's credit. It might not take care of the issue. You might have to sue them for violation of the Fair Credit Reporting act if they are reporting and don't take it off and you believe it is not valid. If they sue your mother on this then you could defend the action in state court.

The foregoing information is general information only and should not be relied upon to take, or fail to take, legal action. No attorney-client relationship is formed by this information.
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Bill Henry
BankruptcyJan 13, 2020
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