If you're only an authorized user on a credit card, you don't directly owe anything as far as the credit company is concerned. However, you can still be sued by the individual who has the card account.
Yes, you can transfer any balance you want to your credit card. Note if you transfer the balance to your credit card, you are now liable for the full debt and not him unless he is an authorized user on the credit card.
No. Authorized Users are NOT liable for the debt, only the PRIMARY on the account is liable.
If you are the account or joint account holder, you are responsible for the entire balance regardless of who incurred the debt. If you are an authorized user you are not responsible for repayment except to the account holder.
Absolutely not ! If the card is not i your name - you have no legal responsibility for any outstanding balance. HOWEVER - IF you are named on the account as a joint card-holder - you're legally responsible for fifty percent of the balance, regardless of who ran up the debt. Additionally, if you have a second card on the same account - YOU are liable for the expenses occurred on your and the account-holder is also liable for fifty percent of the balance.
No. The only exception would be a married couple residing in a community property state.
Only if you did not authorize it. Then your parents would be charged with credit card fraud.If your parents added you to their account as an authorized user, you are not liable for any balance, whether you charged on the card or not. Authorized users generally did not enter into a legal agreement with the creditor. That agreement only extends to the account holder.However, it is customary and usual for these accounts to show on consumer's credit report. There are numerous lawsuits and class action suits contesting the practice. The bureaus continue to do this because their primary client, the credit card companies, benefit if a frustrated or confused authorized user pays the account.Your situation is different if you were added as a co-borrower to the account. Like the co-signer on a car loan, you would be liable for the full amount of the loan or account.If you dispute any information on this account with the credit bureaus it will be deleted from your credit report. The credit bureau must delete Any account in which you are only an authorized user once information is disputed. I have done this myself accidentally.
An authorized user is never legally liable for any debt. Authorized users do not fit the definition of "debtor" under the Fair Credit Reporting Act, nor have they signed a contractual agreement obligating themselves to pay. However, if this authorized user is the beneficiary of the decedants' estate, THAT might make them liable for the unpaid bills. This would depend upon the status of any existing will, and (the applicable) state inheritance laws.
If this is truly a mistake, and the creditor's application does not have authorized user's signature on the application, then the creditor is obligated to correct the credit. Get a letter in writing from the lender stating you are not liable and that they are going to correct all 3 credit reporting agencies. You can send a copy of this letter to all three agencies and get it corrected yourself. I will warn you to keep the original letter as even if you fix the reports now, you may find that in the future, (no matter how many months/years) you will need that letter again.
Yes, you are liable for your husbands credit card.
An authorized user on a credit card can be responsible on an account in which the primary card holder passes. The creditor looks at the situation as the authorized card holder was able to make purchases with the account, and should be held liable, even in the event of the primary's death.
YES No if you are an authorized user. However, they can put a lien on your house since it is joint but they can not force you to sell it.
No, presuming the credit card holder makes all the payments he is supposed to...the user is not liable for the debt on the card, and it is not part of his BK.
It mean - BOTH people who sign the agreement are liable for the balance owing.
AN authorized user cannot be held responsible for a primary holder's debt in any case. Only a joint holder can be liable for the debt. YES OF COURSE
Only if the married couple lived in a community property state.
IT DEPENDS ON THE BALANCE OWING ON THE CAR,THE RULES OF YOUR CONTRACT AND THE CONDITION OF THE CAR RETURNED. MOST FINANCIAL INSTITUTIONS WILL AUCTION THE VECHILE AND PLACE ANY MONIES RECEIVED FROM THE SALE TOWARDS THE BALANCE OWING. IF THER IS STILL AN AMOUNT OWING, YOU ARE STILL LIABLE TO PAY THAT AMOUNT.
No. Someone who pays the debt or an authorized user are not liable for the debt. Only someone named as a joint account holder can be held liable.
Your wife, as an authorized user, is not liable for those debts. Have your wife's name removed from the accounts. Wait at least 30 days and then she can try disputing those tradelines with the credit bureaus.
No. An authorized user is not responsible for credit card debt in any situation. Sorry, I failed to mention that the exception is if the "AU" is a spouse and the couple reside in a community property state. What if the authorized user charged on the card? Would he be held responsible for that?
The credit balance is a positive real number and as such it should not have a minus sign in front. Accounting: If this is about an asset, then this is an amount you owe (you do not have and you are liable to) otherwise if this is for a liability, then this is an amount others owe to you. Example: a credit balance in a tellers (cashier) account is not having a minus in front of it (since it is a positive number) but it means that the cashier is owing money to the till, since the cashier's account is an asset. If you want to reverse a credit balance then you CREDIT again the same amount with a minus in front (you shall NOT debit the same amount, as this is another transaction and not a reversal). Example: Account 1 Db______Cr ..............100 ................20 ..............270 ................10 ---------------- ..............400 <-- This is a credit balance (it shall be unsigned). Reverse transaction No 3 from Account 1 which concerns a loan (just an example) Account 1_____________Loans Db.......Cr_____________Db......Cr ........-270 reversal .......... 270 Now, this is the image of the same account Account 1 Db_______Cr ................100 ..................20 ................270 ..................10 ...............-270 ------------------ ................130 <-- This is the new credit balance (also unsigned). So. A credit balance never has a minus in front. A general ledger account usually can have reversals which are negative amounts on the credit (or debit) side, but this is not called 'credit balance' A balance can sometimes drop below zero, in which case (a) it will have a minus in front and (b) it will not be a 'credit' balance of course, but rather a debit one. Hope this helps. PS dots (....) and underlines (____) only added for visibility/readability purposes they are not contributing to the answer - Thank you.
ia an additional credit card holder liable for the whole debt of the credit card account
If the debt has been transferred onto your credit card, you are liable to pay. You can sue your relative in small claims court to recoup the money you are owed.
No, authorized users are not responsible for an account. Only the actual account holder is responsible for all debt that is incurred.
It depends who your card is with. Some card companies let you add someone and any charges they make will be added on to your balance. Some companies let you have a card with an entirely separate credit limit for your authorised user (but you'd still be liable for the bill). You could do it but cut up the card when it arrives but usually to add an authorised user, they would also need to pass a credit check.
Not to the credit card issuer. The account holder is totally responsible for debt incurred on a credit card. The exception is married couples residing in community property states, where both spouses are considered have the same rights to property and assets and the same responsiblity for debts.