No, authorized users of credit cards are not responsible for the repayment of debt incurred regardless of the circumstances. The authorized is not responsible to the credit card company, hence a discharge of the card holders obligation does not relieve them. However, if they had an agreement with the card holder to re-pay them, a debt did exist. Of course, best reflected in a written agreement. That receivable (an asset) of the card holder, had to be reported as such when he went BK, and could have gone to his creditors. In either case, unless the card holder has been continually trying to collect, making demands for payment and such, I suspect in almost any jurisdiction it would be well past the time limit to enforce collection now.
Bankruptcy does not get discharged. Debts are discharged. The bankruptcy will remain on your credit report for 10 years from the date of filing. The debts that were discharged can remain for 7 years from the date of discharge, showing a zero balance and that they were discharged in bankruptcy.
Yes, discharged debts are generally noted as "included in bankruptcy" on a CR.
Not if the debt was discharged in the bankruptcy. If the judgment was on the credit report before the bankruptcy was filed and/or was discharged in the bankruptcy, the entry will still remain on the CR for seven years.
If a loan from a credit union has been discharged in bankruptcy court, that credit union cannot collect and must write the loan off.
The bankruptcy is not discharged. Your debt obligation is discharged. The discharge notice usually is mailed to you about 6 weeks after the 341 meeting. The filing of bankruptcy will stay on your credit report for 10 years from the date of filing.
No-the accounts have been discharged in bankruptcy.
Any foreclosure or bankruptcy affects your credit. And for anywhere from 7 -10 years.
If the vehicle is owned by someone else (the credit union) then it is not yours to raise finance on.
It should be removed from the credit report in 2009. A bankruptcy remains on a credit report for ten years from date of discharge.
Yes, but only after the bankruptcy is removed from your credit report - which can take over ten years from the discharge.
Why not? All debts are discharged, but any other actions, such as evictions, are not affected. And the fact of being discharged in bankruptcy can stay on your credit report for 10 years.
The debt should be identified as being in bankruptcy or discharged in bankruptcy. It will remain on the list for 7 years. The bankruptcy will remain on the report for 10 years.
Once a person's bankruptcy has been discharged and they have gone through credit counseling with no further debts owed, they may contact a mortgage company.
10 years from discharge
Yes. But not as much as if the husband did the bankruptcy.
It will remain on the report for the required length of time and should be marked "included in bankruptcy."
No, it cannot be removed but the information can be amended to read correctly. A bankruptcy discharge remains on a credit report 10 years from the date of discharge.
yes and it is on your credit report for 10 years.
If the debt that you were sued over, or the judgment itself was included in your bankruptcy, you only need send a copy of your bankruptcy papers to the credit reporting agencies. The judgment will not "come off", but it should get marked "included in bankruptcy" or "discharged through bankruptcy".
:A bankruptcy under chapter 7 or 11, or a non-discharged or dismissed chapter 13 bankruptcy generally remains on your credit file for 10 years from the date filed. A discharged chapter 13 bankruptcy generally remains on your credit file for 7 years from the date filed.
The amount of time a bankruptcy stays on your credit report after discharge differs between Chapter 7 and Chapter 13 Bankruptcy. With Chapter 7 bankruptcy, the Chapter 7 stays on your credit report for 10 years. Chapter 13 bankruptcy, after discharge, it shows for 7 years on your credit report.
No, authorized users are not responsible for debt incurred on such an account.
seven years It is irrelevant whether the bankruptcy is discharged or dismissed when it pertains to the time it is recorded on the credit report, the time limit is ten years.