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โˆ™ 2006-04-10 16:54:41
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Q: Is a cosigner on a credit card responsible after the primary dies?
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Is a cosigner responsible to pay a credit card debt if the credit card limits are increased from what was originally cosigned?

The creditor would likely claim the cosigner is still responsible, but unless it is in the original agreement that such increases are part of the contract the cosigner could make a case for being relieved of the responsibility or only being responsible for the origninally quoted amount.


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).


Is a cosigner responsible to pay credit card debt?

As long as you are a cosignor you are responsible to pay if he doesn't. Sorry, but the answer is yes. As a co-signer, you are stuck.


Can any adult cosign for a teen to get a credit card?

Yes, but if you don't pay the bill the cosigner will be held responsible


Does having a cosigner help your credit?

Yes, having a cosigner on a loan or line of credit/ credit card can help your credit. It can help because, assuming they have good credit, you are more likely to get approved, which gives you a chance to build your credit. The danger is if the cosigner where to default on payments or abuse the account (such as using a credit card you both are signers on to rack up a lot of debt). So if you pick your cosigner carefully it can help you- but remember what you do on the account effects their credit, so make sure you are also responsible with the account.


Can someone with bad credit co-sign with someone with good credit and get a card using the other person's good credit?

You've got that stated backward. The person with bad credit who needs a credit card would be the borrower. He has to find someone with good credit to be the cosigner. And the cosigner has to really trust the borrower because he is going to be responsible for repaying the card if (when) the borrower doesn't.


Do you need a cosigner to have your own credit card?

No. Credit card companies will not give to people who have no income.


Can a credit card company report bad credit on an authorized user's credit report after the death of the primary card holder?

if you are an authorized user on the card then you are responsible for the card too. so yes they can


Who is responsible for company credit card after the company declares bankruptsy?

The company. The liability is one of the many the BK will resolve. Of course, if there was a cosigner or such on the credit line, they are involved too.


What credit card companies will allow you to apply with a co-signer?

If the cosigner has a good credit rating any credit card company would be more than happy to let them cosign. All credit card companies are interested in is getting their money back. The cosigner should always be as sure as possible that the person they are cosigning for is reliable and will pay back any outstanding balance because if they don't the cosigner is 100% responsible in paying that debt back!


Does a 17 year old's credit rating increase if he cosigns a credit card with a parent. Does it matter if he is primary or the cosigner?

From what I understand any credit activities on a minor's name is illegal. You must be 18 to establish credit.


How do you remove a cosigner from a credit card?

The way that can be accomplished is determined by the terms of the lending agreement. Very few, if any lending institutions would allow an account to be amended. The usual procedure is for the account to be closed leaving the original cosigner still responsible to the debt incurred up to the time of closure. The primary holder can then open another account on there own or with another cosigner.


Can a secondary card holder's credit rating hurt the primary card holders credit?

No. The secondary cardholder's credit history has nothing to do with the primary cardholder's. The reason for this is even if there are two cards, there is still only one account for both cards which the primary cardholder is responsible. Jags


I have bad credit and want to apply for a credit card I have a cosigner Where can I apply?

There are many types of credit cards as per your requirements.


Your mother passed away and you was an authorized user she had 15000 on her card you used your card after her death to charge 1500 credit card company said you was responsible for that amount?

If you were an authorized user on your mother's credit card, then you are also responsible for outstanding debts on that account. If your mother had a Will and it was probated her bank accounts would be frozen, creditors paid off as well as any outstanding taxes on house/property and loans. The amount she charged on the credit card should have been paid by any money left in the Will. However, if she had little or didn't leave a will then I am sorry to tell you that you are responsible for the whole bill. Marcy THE CORRECT ANSWER I sorry but that answer is incorrect. There are different types of signers on a credit card agreement. There is the Primary, who's credit rating actually got the account. If the primary could not get the card with just his or her rating, then a Co-Signer would be needed that has the good rating. The Primary and the Co-Signer are both responsible for any charges incurred on the credit card. Then , there is what is called an "Authorized User". This is a person that the Primary and/or Co-Signer allows to use the card. They are put on the credit card account to use (charge) purchases to the credit card. HOWEVER, the Authorized user IS NOT responsible for payment, EVER. Alot of collections agencies will try to tell you that you have to pay the debt, but if you are only a Authorized User, you are NOT legally held to pay any part of the debt.. I worked for 3 banks with credit cards and I know that you do not have to pay, no matter what a collection agency tells you. And if they place anything on your credit report, you can sue them and have it taken off, or you can just dispute it, and then sue when the reporting agency does not take it off. IMPORTANT!!! If someone who is an authorized user of a credit card knowingly uses the card AFTER the death of the primary and cosigner, then that Authorized User WOULD be legally responsible to pay any charges placed on the credit card by them. It is ILLEGAL to continue to use a credit card as a Auth. User when you know that the primary is deceased, and therefore will not be able to pay the debt.


If the cosigner of your credit card files for bankruptcy will this effect your credit rating as well?

Yes. It's possible that the financial transaction that the cosigner was involved with (liable for) might also be affected.


Can a collection agency sue a co-signer on a credit card even if the main signer is alive?

Yes, the primary borrower and the cosigner are both equally and legally responsible for repaying the debt in question. A creditor/collector will take legal action against the party which they believe they are most likely to be successful in collecting monies owed. For example, if the cosigner is currently employed and the primary borrower is not, the creditor might "go after" the cosigner in the hopes of obtaining a judgment that can be executed as a wage garnishment.


What if a person is a user on the credit card and the primary cardholder dies is the user responsible for the debt?

Authorized users are usually not responsible for debt incurred by the use of a credit card. However, some card issuers have begun to require an authorized user to sign an agreement similar to those of a the traditional cosigner. Such stipulations contained in the contract of the primary card holder can result in any user being subjected to repayment of those charges he or she makes on the account. Before entering into such an agreement the authorized user should make themselves aware of all the conditions pertaining to the use of the account.


Who are solely responsible for credit card defaults?

It may not be a "sole" party...it is everyone that signed as a responsible party (primary and co-signers) for the line of credit that was used....they are responsible to pay the charges and therefore are responsible if it is in default and the charge hasn't been paid.


Who is responsible for a deceased person credit card debt in North Carolina?

The estate is responsible for the decedent's credit card debt.


If you have joint credit cards with a spouse who is running them up can you remove yourself from the cards and only be liable for what was on the card prior to removing yourself?

The person who is the Primary credit card holder is responsible for ALL the debt acquired on a credit card. If you are 50% / 50% on a credit card (rare), then you will be 50% responsible for any and all debt no matter when you stop using the credit card. Acquire the credit card in question, destory both by cutting/shredding and then cancel the card. IF your partner is the PRIMARY account holder then you MAY NOT WANT to destroy the card. You may be able to request from the credit card company to remove yourself BUT if that fails to be successful, then maybe the unknown loss of both cards would be a welcome calamity.


Are primary card holders credit affected by adding a user?

A Primary card holder's credit will not be impacted by adding an authorized user.


Is a joint credit card account holder responsible for the entire debt when the other account holder dies?

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.


Does a second credit card holder receive a credit card?

Yes, a second credit card holder has his/her credit card also but of course, they are just under the primary card holder.


If you are an authorized user on a credit card and the primary holder dies are you resonsible for the debt?

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.