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If you default on an unsecured line of credit from a bank can they take money out of your joint bank account?
Wiki User
∙ 14y ago
of course. i have a joint line of credit with my ex. Under the separation agreement, he took over the line of credit. He delays the minimum payment for one day. The bank threatens to withdraw the minimum payment plus penalty from MY PERSONAL BANK ACCOUNT.
Wiki User
∙ 14y ago
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If your husband is the primary card holder does that give you credit history in a joint account?
Yes, as long as your listed as a "Co-signer" on the account. Credit is not build if you are just an "Authorized User" if this was a credit card account. Lastly, this all assumes that whatever this joint-account is that it reports to credit.
If a student loan was obtained 15-16 years ago can they put it back on your credit report for default and can they garnish your joint bank account if no money has ever been paid?
Do you never return what you borrow?
You have bad credit and someone is helping you to bring your credit score up will doing a joint account with you make the person credit rating fall because i have bad credit?
No, the only thing that would affect their credit is the joint account, so just make all the payments on time.
Can you be removed as a joint account holder when you have not placed any debt on credit card?
No you must close the account.
What should you do if your brother made you a joint cardholder to help build your credit but his high balance is hurting your credit?
You can remove yourself from the account. Keep in mind that if it is a joint account you are still equably responsible for the debt incurred.
If you adds your sister as a second cardholder to an account will your credit be negatively affected by your sister's bad credit?
No. Only is she became a joint account holder, then both persons credit would be affected if any default occurred.
If the primary creditor defaults on credit card will the secondary's credit rating be affected if they're not spouses?
Credit scores are kept separate, unless the account in default is a joint account. However, if you are a co-signer you will be contacted about the debt. If you are unable to pay or cannot negotiate a settlement. It will turn up on your credit report.
If your husband is the primary card holder does that give you credit history in a joint account?
Yes, as long as your listed as a "Co-signer" on the account. Credit is not build if you are just an "Authorized User" if this was a credit card account. Lastly, this all assumes that whatever this joint-account is that it reports to credit.
Can a joint checking account with spouse be attached a lien for credit card default in my name only?
Yes - the joint account has your name on it too. Any financial asset that you have access to is able to have a lien attached, and tha includes bank accounts, cars, furniture, anything of value.
Is a financial association created on your credit report when two people apply for any type of joint financial account?
Yes, anytime you open a new credit account, even if it is a joint account, it is reported on your credit report either when it is opened or when it is unpaid.
If you are specified as an authorized user on a credit card account that is not a joint account can your credit score increase?
No, only the primary cardholder's credit score is affected.
If a student loan was obtained 15-16 years ago can they put it back on your credit report for default and can they garnish your joint bank account if no money has ever been paid?
Do you never return what you borrow?
Can an joint account affect a credit score?
yes it can, both parties are equally responsible for the account
Can you be on a joint checking account with bad credit?
You can be, although it will be undesirable to the person you're sharing the account with.
Is a joint applicant's credit affected by a car repossession?
If this relates to a joint account holder or cosigner, then yes the person's credit rating will be affected by a repossession. Yes, whoever's name the car is in will be affected by the car's repossession. Only if the car is somehow tied to the account. Only a bad payment history on that joint account can affect your credit.
You have bad credit and someone is helping you to bring your credit score up will doing a joint account with you make the person credit rating fall because i have bad credit?
No, the only thing that would affect their credit is the joint account, so just make all the payments on time.
How can credit card compaines prove there is a joint account?
A signature on the application.
