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Is a co-applicant responsible for a credit card balance if the card holder does not pay?
Wiki User
∙ 8y ago
Yes. Anytime you enter into a contract as a co-applicant, co-signer, co-owner, etc. you are equally responsible for the debt incurred.
Wiki User
∙ 8y ago
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If you are an authorized user on a credit card and the holder files bankruptcy are you responsible for their balance?
No, authorized users are not responsible for debt incurred on such an account.
Can adding a second card holder to your credit account affect your credit score?
Not if you are responsible for all of the loans or credit card payments on your credit report. But, if the second card holder is responsible for any payments on your cards, and doesn't make them, then it can cause your score to lower.
Am I responsible for my spouse's credit card debt if I am not an authorized user?
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.
Is a wife who is not a joint account holder responsible for her husband's credit card debt in Illinois?
Illinois is not a community property state, therefore a spouse who is not a joint account holder is not responsible for the credit card debt of the other spouse.
What does it mean to co-sign for a credit card?
That means you agree to be completely responsible for paying the balance of the account if the primary card holder defaults on the payments. You may not know if the primary card holder is not paying the monthly bill and your credit record will be affected if the payments are late.You should be very careful about co-signing for a credit card and make absolutely sure you understand your liability if the charges are not paid.
If you are an authorized user on a credit card and the holder files bankruptcy are you responsible for their balance?
No, authorized users are not responsible for debt incurred on such an account.
What happens to a joint credit card when one account holder dies?
Both owners of a joint credit card are equally responsible for paying off the balance on the card. When one dies the survivor is responsible for the full balance.
Is the joint owner on a credit card responsible for the debts?
Answer credit cardfrom past experience with my mother in law, you are responsible for the credit card balance The surviving joint account holder would be responsible for the entire amount owed.Credit Card DebtUnfortunantly you will be responsible for all of it.
Is an authorized credit card user responsible for credit card debt if the primary card holder declares bankruptcy?
No. The card holder is responsible for all debt on the credit they extended to him. (You may be responsible to the credit card holder for the debt he incurred for you, if that was your agreement).
Can adding a second card holder to your credit account affect your credit score?
Not if you are responsible for all of the loans or credit card payments on your credit report. But, if the second card holder is responsible for any payments on your cards, and doesn't make them, then it can cause your score to lower.
Am I responsible for my spouse's credit card debt if I am not an authorized user?
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.
Are you only liable for the dollar amount that you signed for or are you liable for the full balance on the card?
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.
Is a wife who is not a joint account holder responsible for her husband's credit card debt in Illinois?
Illinois is not a community property state, therefore a spouse who is not a joint account holder is not responsible for the credit card debt of the other spouse.
Who is responsible for Spouse credit card after death?
The estate of the credit card holder. If the surviving spouse was an approved user, or co-signee they would also be responsible.
What does it mean to co-sign for a credit card?
That means you agree to be completely responsible for paying the balance of the account if the primary card holder defaults on the payments. You may not know if the primary card holder is not paying the monthly bill and your credit record will be affected if the payments are late.You should be very careful about co-signing for a credit card and make absolutely sure you understand your liability if the charges are not paid.
If you were an additional card holder on your father's credit card are you responsible for the debt afte?
YES
Can the credit card company place a judgment on you if they say you're the coapplicant of your deceased husband but they don't have the original signatures or your SS number and can they make you pay?
If you are on the account as a joint account applicant/holder you are responsible for the debt. Likewise if you reside in a community property state it is not necessary for you to be the account holder, as debts and assets are considered joint and equally owed and owned, regardless of whose name is on the account. Wisconsin does have CP laws concerning debts that differ from the rest of the community property states.
