0
What can be done if an individual who has Power of Attorney is misusing the credit cards of the POA grantor?
Wiki User
∙ 18y ago
Why do they "know" they won't be held responsible? They believe the person who issued the POA will never find out, or ...? Being given a POA is not a license to steal/self-deal. One has a fiduciary duty to the person who issued the POA. * A POA becomes null and void upon the death of the grantor. When the deceased estate is probated any misuse of funds or mishandling of property will be discovered upon the auditing of the estate. A person abusing POA authority can be held directly responsible for such actions and said acts could result in both criminal and civil penalties.
Wiki User
∙ 18y ago
Wiki User
∙ 7y agoThe party who knows the POA is being misused can visit the local probate court and seek to be appointed the legal guardian of the principal. A guardianship would extinguish the POA. The petitioner/guardian who knows of the theft should gather the evidence, report it to the court and seek restitution.
Add your answer:
Earn +20 pts
Who is charged for misusing credit cards?
People who misuse credit cards are charged for misusing credit cards.
How can you make the credit card company reopen an account and remove 'closed by credit grantor' from your credit report?
You can't MAKE a credit card company reopen an account. You can call the credit bureau and request that they change the status to indicate that is was closed by you and not the credit grantor. Or, you can simply put a notation in your credit report stating that the account was closed by you and not the card company.
Will it have a negative effect on the report if an account has been closed by the credit grantor because the card has never been used?
It may. I have heard rumors that the statement "closed by credit grantor" is considered negative and has an impact on credit scores. "Closed by consumer" is considered a positive and does not impact scores. This is unconfirmed and certainly not in writing outside of the scoring companies.
Can a credit card company put a lien on a revocable trust bank account in Arizona?
Yes if they obtain a judgment they can enforce it upon the estate. Since the trust may be altered at any time until the grantor's death, it is considered part of the grantor's and is estate subject to be taxed as well.
How can you get all your credit reports to match?
AnswerYou get them to match by disputing errors with each individual credit agency.
Who is charged for misusing credit cards?
People who misuse credit cards are charged for misusing credit cards.
What is a Credit Grantor on your credit report?
A credit grantor is the bank or lending institution that has loaned you money or given you a line of credit such as a credit card.
What does cancelled by credit grantor mean?
Cancelled by credit grantor means that your credit card account was closed by the creditor. This means that it was cancelled by the person extending you credit, rather than being cancelled by you.
How can you make the credit card company reopen an account and remove 'closed by credit grantor' from your credit report?
You can't MAKE a credit card company reopen an account. You can call the credit bureau and request that they change the status to indicate that is was closed by you and not the credit grantor. Or, you can simply put a notation in your credit report stating that the account was closed by you and not the card company.
Credit line closed-grantor request-reported by subscriber?
Company Closed account
Is it bad for your credit if old credit card accounts are closed by the creditor and not by you?
It is considered a derogatory mark on a consumer's credit report to have the notation "closed by credit grantor" rather than "closed by consumer".
Will it have a negative effect on the report if an account has been closed by the credit grantor because the card has never been used?
It may. I have heard rumors that the statement "closed by credit grantor" is considered negative and has an impact on credit scores. "Closed by consumer" is considered a positive and does not impact scores. This is unconfirmed and certainly not in writing outside of the scoring companies.
Can someone give me a credit card number?
There is a chances of misusing while sharing credit card number with others. The amount can be misused. So to avoid this buy virtual credit cards which are more secure for online transaction.
Credit card account closed by the grantor can they still charge interest?
Yes, as long as you still owe money.
Can you take your co signer off your car loan?
No. The co-signer is there because the credit grantor considered you too risky.
Does Credit repair work?
The process of repairing credit is slow and takes time and more than a little effort. Successful restoration of good credit requires a full understanding of how credit bureaus and individual creditors interpret your credit profile. Credit bureaus tell you that you have the right to dispute, and perhaps remove, individual items on your credit report. The reality is that most people just do not have the time, patience, nor inclination to fight a protracted credit repair battle with multinational banks and other credit providers. For those who would prefer, you can have a professional, such as an attorney, to handle these tasks.
What does it mean for an individual to have a personal line of credit?
Every individual has a line of credit. This line of credit is what determines your credit score and what will be used to approve or deny you credit cards or loans.
