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Business partner is authorized user on credit card and business is dissolving does the primary card holder own what was purchased by authorized user?
Wiki User
∙ 8y ago
Ownership is an issue not covered by credit laws. There may be other statutes that deal with this issue. "Possession is nine tenths of the law" comes to mind.
Creditors are only concerned with the money due them. An authorized user does not qualify as a "debtor" under the Fair Credit Reporting Act and therefore never has liability. The primary card holder would have liability regardless of who purchased the items/services and who has "ownership".
Wiki User
∙ 8y ago
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help
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